Flexible spending options

Flexible spending options are employer-sponsored accounts that let employees set aside pre-tax dollars to pay for certain qualified expenses, such as healthcare or dependent care. This reduces your taxable income and can save you money. You contribute a portion of your paycheck upfront, and then use those funds to pay for eligible expenses throughout the year. It's a convenient way to manage costs for medical bills, prescriptions, or childcare, while also enjoying tax advantages. However, funds typically need to be used within the plan year or a short grace period, so careful planning is advised.