A new standard benefit at many US companies. A Flexible Spending Account (FSA) allows an employee to predesignate an amount of money to be withdrawn from their pay, up to 3000USD. This money is taken out pre-tax, and is placed into an account managed by the company.

The employee may submit reimbursement against the account for uncovered medical expenses, and receive payment up to the total expected value of the account. If at the end of the year, the employee has not received reimbursement equal to the value of the account, any extra is returned to the company.

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