An FSA, or Flexible Spending Account, is an employer-sponsored account that enables participants to set aside money from each paycheck, before taxes, to help pay for IRS-approved, out-of-pocket medical expenses for themselves and their dependents.

An HSA is a tax-advantaged benefit account for people enrolled in a high-deductible health plan (HDHP). Account owners make pre-tax contributions each payday in order to pay for IRS-approved eligible expenses for themselves and their dependents.

A limited purpose FSA (LPFSA) is a tax-advantaged benefit account available only to those with an HSA. You may use a LPFSA to pay for qualified vision and dental expenses. If you claim an expense through your LPFSA, you can't claim it again through your HSA.

A Dependent Care plan (DCAP) is an employer-sponsored benefit that helps pay for the care of a qualified dependent. Each pay period, the employee makes a pre-tax contribution to the account. After paying for care and filing a claim, the employee receives reimbursement.

A Transit (also known as Commuter) plan is an employer-sponsored fringe benefit where employees can use set-aside money to help cover the cost of commuter expenses.

An HRA, or Health Reimbursement Arrangement, is an employer-sponsored benefit plan funded by the employer. Employees can be reimbursed tax-free for qualified health expenses. The employer determines which expenses are qualified.

COBRA allows employees to keep their healthcare coverage under their employer’s group plan after they experience a qualifying event that would result in loss of coverage such as job loss, reduced work hours, divorce, death of a covered employee, and more.