Question

Which sentence about flexible spending accounts (FSAs) is true? A. The funds in the account remain for as long as you’re employed by the company sponsoring the FSA. B. Contributions are taxed when funds are withdrawn to use on qualified expenses. C. Contributions are made with pretax dollars. D. There is no contribution limit.

Answer 1

Answer:

b is correct

Explanation:

Answer 2

Contributions shall be paid until contributions for eligible spending are removed.

Explanation:

A Flexible Spending Account (FSA) is a kind of savings account that offers specific tax incentives for the account holder. The employer for a contractor provides the FSA, also known as a flexible spending plan. The account requires workers to pay for eligible charges related to medical care and dentistry for a percentage of their daily earnings.

An FSA is a form of savings account that helps workers to pay for authorized expenses in a part of their regular income.

Funds paid to the company shall, due to payroll deductions, be excluded from the worker’s wages.

The money must be invested by the completion of the scheme year in the FSA, but employers can give up to 2.5 months of time until 15 March next year.