Health Plan Flexible Spending Account(redirected from Health Plan Flexible Spending Accounts)
Health Plan Flexible Spending Account
A structure in which an employee makes tax-free contributions to a special account that can be used for medical expenses not reimbursed by his/her ordinary health insurance. One may use funds in the account to make premium payments or to pay for unexpected expenses. A flexible spending account helps reduce one's risk of being underinsured. However, if one does not spend everything in the account by the end of a calendar or fiscal year, the remainder reverts to one's employer. See also: Health savings account.