Flexible Spending Accounts (FSA)

What is the difference between a Health Care FSA and a Dependent Care FSA?

The difference is in the name!

Whereas a Health Care FSA allows you to allocate specific funds towards health care expenses for you and your dependents, a Dependent Care FSA is intended to help pay for costs associated with caring for eligible dependents, such as summer camp and adult and child day care.

Although both accounts allow you to use pre-tax dollars on your dependents, the eligible expenditures are generally mutually exclusive.

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