Flexible Spending Account
Flexible Spending Account means:
a plan under which employees may make tax-free salary-reduction contributions to a medical or dependent care reimbursement plan, or for the purchase of group health insurance or life insurance coverage on a pretax basis.
See also other Tax Terms and Definitions in U.S.A.
cafeteria benefit plan.
See Flexible Spending Account, Reimbursement account and Flexible Spending Account.
Description and Definition of Flexible Spending Account
This is a salary reduction plan which allows employees to pay for enhanced medical coverage or dependent care expenses on a tax-free basis. Under this plan, you receive medical insurance and child care tax free.
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