Flexible Spending Accounts (FSA)

What is Flexible Spending Accounts (FSA) ?

‘Flexible Spending Accounts’ or FSAs are the kinds of salary accounts in the USA, wherein, an employee can set aside a part of their income for any kind of predefined qualified expenses.

As the deductions are applied to the gross income, it is also tax-efficient. However, whatever amount not used up by the end of the year is forfeited, which is a disadvantage to the employee.

Hence, employees generally plan beforehand and enroll for FSA knowing that there might be some expenditure in the coming months. It helps them save taxes as well as have the extra money when in need.

More HR Terms


What is a CV/Resume?   CV or resume is a summary highlighting an individual’s professional knowledge, qualifications, work experience, knowledge skills, additional activities, certifications, and

Machine Learning

What is Machine Learning?    Machine Learning refers to a branch of artificial intelligence in which the machines are subjected to huge amounts of data

Casual Employment

What is Casual Employment?   ‘Casual Employment’ refers to the kind of employment in which an employee is provided work when it is needed. There

Contact Us

Contact Us

We use cookies on our website to provide you with the best experience.
Take a look at our ‘privacy policy’