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.
The City of New York offers its employees a Flexible Spending Accounts (FSA) Program, which is allowable under Internal Revenue Code (IRC) Section 125. The Program allows City employees to deposit a portion of their pre-tax income into accounts maintained for certain health and dependent care expenses.