Glossary · Benefits
FSA (Flexible Spending Account)
An employer-sponsored, employee-funded pre-tax account used to pay qualified medical or dependent-care expenses, with limited carryover.
All terms
Entravia Editorial
Health FSA balances are subject to the IRS use-or-lose rule with limited carryover or grace-period options. Dependent-care FSAs follow separate rules. Plan-year administration and substantiation requirements are common compliance pitfalls.
PEOs typically administer FSA enrollment, payroll deduction, and substantiation through bundled benefits-administration platforms.
Related terms
- HSA (Health Savings Account)A tax-advantaged savings account paired with a qualified high-deductible health plan, owned by the employee with portable balances.
- HRA (Health Reimbursement Arrangement)An employer-funded account that reimburses employees for qualified medical expenses on a tax-advantaged basis.
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