MLchartDataset catalogue

Flexible spending account

Term · Law · MLC-T-LAW-002151

An employer-sponsored benefit plan that allows employees to set aside pre-tax money for certain out-of-pocket healthcare or dependent care expenses. Funds contributed to an FSA are not subject to federal income tax, Social Security tax, or Medicare tax. Most FSAs operate on a "use-it-or-lose-it" basis, requiring funds to be spent within the plan year or a short grace period.

Table 1. Record
IdentifierMLC-T-LAW-002151
FieldLaw
AbbreviationFSA
Record as JSON 
{
  "id": "MLC-T-LAW-002151",
  "term": "Flexible spending account",
  "field": "Law",
  "definition": "An employer-sponsored benefit plan that allows employees to set aside pre-tax money for certain out-of-pocket healthcare or dependent care expenses. Funds contributed to an FSA are not subject to federal income tax, Social Security tax, or Medicare tax. Most FSAs operate on a \"use-it-or-lose-it\" basis, requiring funds to be spent within the plan year or a short grace period.",
  "abbreviation": "FSA",
  "url": "https://mlchart.com/terminology/law/flexible-spending-account/"
}

Record 2,059 of 5,439 in Law terminology (MLC-0107). Request the full dataset.