What is a Flexible Spending Account (FSA) & How Does it Work?
A Flexible Spending Account allows employees to put some of their income aside to later use for qualified medical expenses. The main perk of an FSA is that the funds contributed are not subject to income and payroll taxes. Both employees and employers can contribute to an FSA.
If you are self-employed or unemployed, you need to seek other ways to save money on healthcare. To avoid insurance premiums altogether, a non-insurance membership program may better suit your healthcare needs. In particular, Mira offers affordable access to clinics, labs, pharmacies, and gyms across the country for only $45 per month. Check it out today.
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Alexis Bryan MPH, is a recent graduate of Columbia’s Mailman School of Public Health. She is passionate about increasing access to care to improve health outcomes. Outside of work, she loves to travel, read, and pay too much attention to her plants.