Learn about a Flexible Spending Account (FSA) and how to set it up.
An FSA is a savings account your employees can use to pay for health-related costs. The money they contribute to their FSA comes out of their pay before taxes.
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These are the types of FSA deductions supported in QuickBooks:
- Dependent Care FSA - used for dependent child or adult care benefits.
- Med Care Flex Spend/Medical Expense FSA - used for medical expenses like copays or prescriptions.