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The Medical Flexible spending account is the most popular type of FSA is used to pay for medical expenses not paid by any insurance; the most common expenses would be co-payments at doctors and hospitals, prescription drug costs, insurance deductibles and coinsurance. Starting January 1, 2011 participants of Medical FSA will not be able to [...]

A flexible spending account (FSA) is a tax advantaged employer sponsored cafeteria plan. A flexible spending account allows an employee to contribute a portion of his or her wages to pay for their family’s medical expenses or dependent care expenses based on the rules established in the cafeteria plan. Funds deducted from an employee’s pay [...]