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  • financial-independence

Flexible spending account (FSA)

A flexible spending account is a form of savings account that offers special tax benefits to the account holder. An FSA, often known as a "flexible spending arrangement," is a type of account that may be set up by a business for its workers. You can donate a percentage of your normal wages to the account, and companies can likewise contribute to workers' accounts. The distributions from the account must be utilized to compensate the employee for eligible medical and dental costs.

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