Prometheus (Greek: Î ÏÎ¿Î¼Î·Î¸ÎµÏÏ) is a Titan, culture hero, and trickster figure who in Greek mythology is credited with the creation of man from clay and the theft of fire for human use, an act that enabled progress and civilization. He is known for his intelligence, and as a champion of mankind.[1]
No. If you use your health care flexible spending account to pay for eligible expenses, you cannot deduct those same expenses from your federal income tax return. Keep in mind that by IRS law, you are only allowed to deduct medical expenses that exceed 10% of your gross income. The advantage of the health care flexible spending account is that you can get a tax benefit on health expenses below that threshold.
A. Included in the FSA Employee Information booklet is the Flexible Spending Account Deduction Worksheet*. This worksheet can help employees estimate their annual medical or dependent care expenses. Employees can also use the Employee FSA Tax Savings Calculator to determine how much to contribute to their FSA.