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FSAs are used by employees to pay a number of traditional and alternative medical expenses and dependent care with before-tax dollars. What this does for the employee is increase spendable income and provide for coverage of the employee's chosen benefits.
Some expenses FSAs reimburse are:
- Insurance Premiums for group life, accident, health and dental insurance
- Medical Expenses which are not usually covered by traditional insurances
- Health insurance deductibles and co-payments
- Routine exams, well-baby care, nursing help, birth control, infertility treatment
- Physical and psychiatric therapy, holistic care
- Vision and dental care, adaptation equipment
- Dependent Care for couples and single parents
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