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Health Care FSA. A Health Care FSA allows employees to set aside pre-tax dollars out of their paychecks to pay for eligible health care expenses. Funds put into the plan avoid both Federal Income Tax and FICA, creating a tax savings for both the participant and the employer! request a quote.
1. A flexible spending account (FSA) is a benefit plan that allows you to set aside tax-free dollars from your pay check into a special account that can be used throughout the year to reimburse yourself for eligible out-of-pocket expenses.1. The answer depends on the type of FSA you have. For the Health Care Account, you can receive reimbursement for claims that exceed the current amount in your account, as long as the total doesnât exceed the total amount of your annual election.