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How much you save depends on how much you spend on health and dependent care, and on your tax situation. For every $100 of eligible expenses, most people will save from $30 to $40 in taxes. Click here to calculate your own savings or here for some real-world examples on how you can save.
Pay for hundreds of expenses - tax-free!
You can use your FSA to save on hundreds of products and services for you and your family. Eligible expenses are defined by the IRS and your employer.
Typically, your Health Care Account covers:
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Prescriptions for almost any medical condition |
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Prescribed over-the-counter health care products* like allergy medicine, antacid, antibiotics, aspirin...(and that's just through "a") |
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Co-payments, co-insurance, and deductibles - but not insurance premiums |
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Dental care, both preventive and restorative |
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Orthodontia, child and adult |
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Vision care, including eyeglasses, contact lenses, and saline solution |
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Eye surgery, including laser vision correction |
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Counseling and therapy |
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Psychology and psychiatry |
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Chiropractic care, acupuncture, and some other alternative treatments |
* Requires a doctor’s prescription beginning in 2011. |
Your Dependent Care FSA covers these types of expenses
(for your eligible dependents while you work:)
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Babysitting or au pair services |
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Before- and after-school programs |
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Day care and nursery schools |
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Pre-school programs |
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Elder care services |
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