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  What is a Flex Spending Account? A Flexible Spending Account, also known as a flexible spending arrangement, is a tax-free way to pay for medical and health related expenses not covered by your health or vision insurance. FSAs allow you to set aside a portion of earnings to pay for qualified expenses. These accounts are great for lowering your taxable income and in turn saving you money, but if you don’t use your FSA dollars by the deadline you will lose them for good. Some employers do have a grace period, but it is best not to wait. As the year comes to an end, time is running out to use your FSA dollars before they expire, so don’t forget to use some of that flex … Read More