Flexible spending accounts are becoming more common as people are looking for ways to fund their healthcare. Usually these types of accounts are used in conjunction with employer provided benefits and allow the person to use tax free money to pay for other types of health services.
Healthcare can be so confusing and many people don't know what their flexible spending accounts qualify them for. Also, many people are unaware that their flexible spending accounts can items such as braces, chiropractic and podiatric services. Your flexible spending may cover shoes, orthotics...even laser therapy in our office.
Often times, if you do not use the money by the end of the year, you lose it! This is money you are entitled to and most likely came out of your paycheck. Be sure to inquire about what your money will cover and when it expires.