What does flexible spending account mean?
Definitions for flexible spending account
flex·i·ble spend·ing account
This dictionary definitions page includes all the possible meanings, example usage and translations of the word flexible spending account.
Wikipedia
Flexible spending account
In the United States, a flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts, resulting in payroll tax savings. One significant disadvantage to using an FSA is that funds not used by the end of the plan year are forfeited to the employer, known as the "use it or lose it" rule. Under the terms of the Affordable Care Act however a plan may permit an employee to carry over up to $550 into the following year without losing the funds but this does not apply to all plans and some plans may have lower limits. The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA). However, while HSAs and HRAs are almost exclusively used as components of a consumer-driven health care plan, medical FSAs are commonly offered with more traditional health plans as well. In addition, funds in an HSA are not lost when the plan year is over, unlike funds in an FSA. Paper forms or an FSA debit card may be used to access the account funds.
Numerology
Chaldean Numerology
The numerical value of flexible spending account in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of flexible spending account in Pythagorean Numerology is: 6
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"flexible spending account." Definitions.net. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.definitions.net/definition/flexible+spending+account>.
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