FSAs are available for anyone to save a portion of their income pre-tax to pay for qualified health care costs in each calendar year. Most cover monthly prescriptions, deductibles and qualifying charges for medical and dental care, vision, and day care costs.

Depending on your preferences and eligibility, (check current qualifying HDHP deductibles for individuals or families) you may be better off choosing a Health Savings Account (HAS).

Comparing the contribution provisions, balance rollover ability, and overall tax benefits will best inform your decision.

Either way, if you live in Maryland, Virginia or Washington, D.C., the independent insurance experts at Ashcraft Associates Insurance Agency in Alexandria, VA, can find insurance solutions to save you money and help you plan your annual medical costs.

Flexible Spending Accounts (FSA) Providers Serving VA, MD, and DC