Health Supplement
Unlike the older Flexible Savings Accounts offered in employer cafeteria plans, you don’t have to spend the money mens put into the account by year end or otherwise lose whatever’s left. Money put in the plan grows tax free and funds withdrawn for qualified medical football expenses are also tax free. This can allow for a nice chunk of money to accumulate that can be withdraw tax free at age 65. A trustee approved by the IRS must be used.
Money can be rolled over from year to year. The plan is set up like an IRA.