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FSA Tax Savings

Here's an example of the tax savings an employee can experience with a PriorityFSA:

  Without FSA With FSA
Annual earnings $30,000 $30,000
Health care account $0 $300
Dependent care account $0 $3,000
Taxable earnings $30,000 $26,700
Federal, state and other taxes
$8,595 $7,650
After-tax health care payments $300 $0
After-tax dependent care payments $3,000 $0
Annual take-home pay $18,105 $19,050
TOTAL SAVINGS1   $945

1Employees are encouraged to talk to an accountant or tax advisor on flexible spending accounts. Their total tax savings will be based on their unique circumstances and needs.

Last modified 12/12/09