Should I set up a health care or child & elderly care FSA?

The right choice depends on what kinds of expenses you have:

  • Choose a Health Care FSA to pay for out-of-pocket health care expenses (e.g., doctor copays, prescriptions, deductible expenses, and other FSA eligible expenses) for you, your spouse, or your dependents.
  • Choose a Child & Elderly Care FSA to pay for the care of a child or other dependent (e.g., an aging parent) so that you (and your spouse, if you have one) can work or look for work.

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