A spending account can save you money by using pre-tax dollars, but it requires careful planning. Keep in mind that money deducted from your pay and deposited in your Health FSA or Dependent Care Account must be used during the year for the appropriate expenses. Money left in an account does not carry over to the next year, and it is not refundable to you at the end of the year. In other words, if you do not use it, you will lose it!
This account can be used for regular, predictable health care expenses, such as vision care, that are not covered by your medical or dental plan.
This account can be used to reimburse expenses associated with the care of your children or other dependents while you (and your spouse) work or attend school full-time.