How do FSAs save me money?
Throughout the plan year, you use the money that was deducted from your paycheck and contribute to your FSA to pay for eligible health care or dependent care expenses. These are expenses that you would have to pay out-of-pocket, even if you didn’t have an FSA (e.g., day care bills, copays, eyeglasses, dental care, and more). But with the use of an FSA, you are now using money that you did not have to pay taxes on to do so. Without an FSA, you would pay taxes on the money you use to pay for these eligible expenses, costing you more out-of-pocket. Review the How FSAs Can Save You Money resource document for additional information.