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Flexible Spending Account (FSA). An arrangement you set up through your employer to pay for many of your out-of-pocket medical expenses with tax-free dollars. These expenses include insurance copayments and deductibles, and qualified prescription drugs, insulin and medical devices.
Answer: A profit-sharing plan is a defined contribution plan in which your employer has discretion to determine when and how much the company pays into the plan. The amount allocated to each individual account is usually based on the salary level of the participant (employee).f you were to leave the company prior to full vesting and move your account elsewhere, you would forfeit all or a portion of the account's accumulated value. Profit-sharing plans are usually funded using mutual funds, variable annuities, or life insurance.