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Employee Benefits 101

Employee Benefits 101

Peter Vogt/FastWeb

Flexible Spending Account

You may know this benefit as a Section 125 plan. Whatever the terminology, a flexible spending account allows you to set aside some pretax money to pay for things like health insurance premiums, child care or even that new pair of glasses you’ve been meaning to buy. This helps you reduce your income tax bill at the end of the year, thus saving you money you otherwise would have to give to the government.

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