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 General Purpose Health Care (GPHC) FSA, Limited Purpose Health Care (LPHC) FSA or Dependent Care FSA 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. Click the following links to view the General Purpose Health Care FSA Calculator, Limited Purpose Health Care FSA Calculator, Dependent Care FSA Calculator.