{"id":19348,"date":"2025-09-22T13:37:47","date_gmt":"2025-09-22T17:37:47","guid":{"rendered":"https:\/\/sourcelive.hr.msu.edu\/?p=19348"},"modified":"2025-09-22T13:37:50","modified_gmt":"2025-09-22T17:37:50","slug":"save-money-on-common-household-expenses-with-an-fsa-3","status":"publish","type":"post","link":"https:\/\/sourcelive.hr.msu.edu\/?p=19348","title":{"rendered":"Save Money on Common Household Expenses with an FSA\u00a0"},"content":{"rendered":"\n

As you review your benefit options for the coming year during Open Enrollment (October 1 to 31<\/strong>), consider whether a flexible spending account (FSA) makes sense for your family. We all spend money on medical expenses such as prescription and office visit copays, dental work, and over-the-counter items like bandages. And many families spend thousands of dollars each year on child or adult care. <\/p>\n\n\n\n

If you are looking for ways to save money on caregiving costs and\/or medical care expenses, enrolling in an FSA is a sound strategy. An FSA allows you to use pre-tax dollars to pay for eligible expenses, such as child care or health care costs like copays.\u202fIn fact, using FSA funds for these types of expenses can save you an average of 30%!<\/em>1<\/sup><\/em>\u202f <\/p>\n\n\n\n

MSU offers benefits-eligible employees the option to enroll in two types of FSAs:\u202fDependent Care FSA<\/strong>\u202fand\/or\u202fHealth Care FSA<\/strong>. You can enroll in one or both FSA plan types. You will manage your FSA directly with MSU\u2019s plan provider, HealthEquity.\u202f <\/p>\n\n\n\n

Should I enroll in both FSA types?<\/strong>\u202f <\/h2>\n\n\n\n

Good question! The answer depends on what you and your family need. Make sure you know the eligible expenses each FSA plan allows you to use your pre-tax money on before you enroll in one or both plans.\u202f <\/p>\n\n\n\n

Dependent Care FSA Eligible Expense Examples:<\/strong>\u202f <\/h2>\n\n\n\n