WHAT IS A FLEX SPENDING ACCOUNT?

A Flexible-Spending Account or “Cafeteria Plan” allows employees the option of setting aside a certain amount from each paycheck-before paying income tax on those funds. The money that is set aside in this account can be used to pay for a variety of expenses not covered by insurance, including Laser Vision Correction and ICL procedures. When employees use tax-free dollars to pay for these expenses, they realize an increase in their spending power, and substantial tax savings.