A Flexible Spending Account is a benefit that allows you to set aside money from your paycheck to pay for dependent care expenses and/or eligible heath care expenses not covered by your health, dental, or vision plan. Your contributions are deducted from your paycheck pre-tax; therefore you are able to save 25% to 40% on qualified expenses. Examples of eligible health care expenses include: office co-payments, dental and vision expenses, and some over the counter medications.