Comments For: Flexible Spending Accounts

Flexible spending accounts are special savings accounts that let you set aside pre-tax money for paying for child care or for health expenses that aren't covered by your health insurance plan. Flexible spending accounts are offered through many employers, who have the responsibility of opening and maintaining the accounts on behalf of their employees who use them. Flexible spending accounts were started in the 1970's, around the same time that 401K plans began, but as healthcare and childcare costs are increasing, more people are starting to take advance of flex funds.