FSA (Flexible Spending Account)
Flexible Spending Account, putting money from your paycheck into an account for eligible out of pocket healthcare expenses like medical, dental, vision, and prescription. FSA is taken out of your check BEFORE taxes, tax free. You get the benefit of saving money on the things you would already be spending. This is an employer-owned but employee- funded account, that is not portable. The average person saves 30% each year.