WOONSOCKET, R.I., June 19 (UPI) -- CVS/pharmacy is making it easier to track eligible expenses for U.S. health savings accounts and flexible spending accounts, officials say.
Health savings accounts and flexible spending accounts are made available by many U.S. employers as part of company health benefits. HSAs and FSAs allow an employee to set aside a portion of pretax earnings to pay for healthcare expenses not covered by health insurance. Money deducted from an employee's pay into a HSA/FSA is not subject to payroll taxes, resulting in substantial payroll tax savings.