Stretching Your Budget with an FSA
Just like you set a household budget to save and manage your hard earned money, you can do the same with your health care expenses by taking advantage of something called a flexible spending account (FSA). An FSA is a benefit offered by most large employers. An FSA saves you money in two ways. First, by enrolling, you’ll save up to 40 percent on your health care expenses since the money set aside in your FSA is deducted from your paycheck before it’s taxed. Second, reducing your taxable income leaves you with even more money in your pocket for all of your other expenses.
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