Posted October 24, 2013 10:59:06 CDT

Enroll for Benefits and Health Flexible Spending Account (FSA) by November 2nd

by G. Dourisseau

Make the Most of Your Benefit Options and Save with a Health FSA

A health flexible spending account (FSA) is a benefit plan that lets you save money by putting pre-tax money aside in a special account to help pay for certain medical costs and other eligible health services. This means you can save on what you pay in your annual income taxes. View the Health FSA Summary Plan Description and a list of FSA-eligible expenses on yourtracktohealth.com > Benefits > Health Flexible Spending Account.

How it Works

When you enroll in a health FSA, a specific amount of money, based on what you decide to contribute annually during Open Enrollment, is withdrawn from your paycheck and placed in your account. This money is withdrawn before taxes are calculated. You can decide to contribute as little as $10 per month ($120 annually) or as much as $208.33 per month ($2,500 annually).

Calculate Your Potential Savings

Use the online FSA calculator to see the potential tax savings you and your family could experience with a health FSA. Access the calculator on yourtracktohealth.com > Benefits > Health Flexible Spending Account > Forms & Tools.

Use an FSA to pay for eligible out-of-pocket expenses like these:

1. Doctors’ office visits and procedures
2. Eyeglasses and vision exams
3. Dental treatments (X-rays, cleanings, fillings, etc.)
4. Qualifying prescriptions

To view a list of more healthFSA-eligible expenses, go to yourtracktohealth.com  select Benefits and then select Health Flexible Spending Account from the left menu.