Should I set up Limited Purpose FSA or Child & Elderly Care FSA?
The right choice depends on what kinds of expenses you have:
- Choose a Limited Purpose FSA to pay for out-of-pocket Dental and Vision expenses (e.g., eyeglasses, contact lenses, orthodontics, and other LPFSA eligible expenses) for you, your spouse, or your dependents.
- Choose a Child & Elderly Care FSA to pay for the care of a child or other dependent (e.g., an aging parent) so that you (and your spouse, if you have one) can work, look for work, or go to school full-time.