Enrolling in a flexible spending account (FSA) can save you money by reducing your taxable income. Salary amounts that you elect to contribute to an FSA are exempt from federal income, state income, and FICA/Medicare taxes. Your contributions are then reimbursed to you as you incur eligible expenses. Use the calculator below to estimate the tax savings available to you by enrolling in an FSA.

A health FSA reimburses medical expenses for you, your spouse, and your tax dependents. Deductibles, co-pays, prescriptions, non-traditional treatments for a medical condition, as well as many over-the-counter expenses, from Advil to Zantac, may be reimbursed. If you have a child under age 13, or a dependent incapable of self-care while you're at work, a dependent care FSA allows you to elect pre-tax salary reductions of up to $5,000.00 to pay for their custodial care.