Question
After hearing about her employer’s health FSA, Yin has decided to enroll in an account. While trying to plan the amount of money to put into her FSA, Yin has made a list of items that she’d like to purchase during the plan year with FSA funds. Using the FSA Eligibility List, select all of the expenses on Yin’s list that she can pay for through money in her FSA. hypoallergenic earrings prescription sunglasses makeup medical equipment prescription medications shampoo soap sunscreen
Answer
hypoallergenic earrings, prescription sunglasses, medical equipment, prescription medications, sunscreen
- Q: What is FSA? A: FSA stands for Flexible Spending Account, which is a tax-advantaged financial account that allows an employee to set aside a portion of their earnings to pay for qualified expenses.
- Q: What is FSA Eligibility List? A: The FSA Eligibility List is a list of qualified expenses that can be paid for using funds from an FSA.
- Q: Which expenses on Yin's list can be paid for through her FSA? A: hypoallergenic earrings, prescription sunglasses, medical equipment, prescription medications, sunscreen.