3 Flexible Saving Account Options

If your employer offers a flexible saving account, you may have a few different options to choose from. Here are some of the different flexible saving account options that are available.

1. Medical

One of the most commonly used types of flexible saving accounts is the medical version. With this type of flexible saving account, you will be able to use the money in the account for medical expenses that are not covered by your health insurance. With this type of plan, you will be able to pay for co-pays, deductibles, and other medical expenses like prescriptions. You can even use the money to pay for over-the-counter drugs.

2. Dependent Care

Another option that you might have is a dependent care flexible saving account. With this type of account, you can use the money that you set aside on a pretax basis for your dependent care costs. This can pay for daycare costs for children under the age of 13 and it can also pay for costs associated with taking care of an elderly adult. 

3. Adoption Assistance

In some cases, you might also be able to get an account that can be used to pay for the expenses of adoption assistance. 

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