Home Health Care Quickbooks Accounting FAQS

• In what way to set up a Flexible Spending Account?

1. In what way to set up a Flexible Spending Account?

Setting up a flexible spending account (FSA) with your employer is relatively forthright, but to get the maximum benefit from your FSA, you'll require to do a bit of financial forecasting. There are two basic kinds of flexible spending accounts. A health care spending account is used for medical and health care expenses not compensated through your insurance company, such as co-payments, over-the-counter medications and first-aid supplies. Dependent care accounts are used to pay child care expenses. In both account types, pretax dollars are abstracted from your paycheck to fund the account.