Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
A great way to lower your taxable income and pay for various expenses is to enroll in and contribute to a tax advantage account. When you pay for expenses on a pre-tax basis, your taxable income is lower and you will pay less in taxes at the end of the year. If you expect to have any out-of-pocket health care or day care expenses during the plan year, you will want to consider putting money into a tax-advantage account.
Debit Card: (Healthcare FSA, Limited Purpose FSA and HSA) PayFlex will issue a MasterCard debit card. You can use your debit card for expenses at most pharmacies and physician offices.
Online Banking: PayFlex offers online banking features for participants.
PayFlex has a comprehensive list
of frequently asked questions that can help answer some of the questions
you have about tax advantage accounts. Note: not all categories/products listed are available through Farm Credit Foundations.