Flexible spending account usage rules

A Flexible Spending Account (FSA) allows you to set aside pre-tax money from your paycheck for eligible medical expenses, like doctor visits, prescriptions, and certain health supplies. The key rules are that the funds must be used within the plan year, or they may be forfeited unless your plan offers a grace period or carryover option. You cannot change your contribution amount unless during open enrollment or qualifying life events. Keep receipts for eligible expenses, as you might need to verify claims. FSAs help you save on taxes while covering healthcare costs efficiently.