What types of accounts are available under Discovery Benefits?

Discovery Benefits offers a variety of account types designed to help individuals manage their health and employee benefits more effectively. One of the primary account types available is the Health Savings Account, also known as an HSA. This type of account allows individuals to save money tax-free for eligible medical expenses, making it a popular choice for those with high-deductible health plans. Additionally, there are Flexible Spending Accounts, commonly referred to as FSAs, which also enable users to set aside pre-tax dollars for qualified medical expenses. FSAs can be used for a range of expenses, including over-the-counter medications and certain health-related services. Another type of account offered is the Dependent Care FSA, which allows individuals to allocate funds for childcare expenses while they are working, thereby reducing their taxable income. Moreover, Discovery Benefits provides a Commuter Benefits program, allowing employees to use pre-tax dollars for commuting costs associated with public transportation and parking. Lastly, there are other ancillary benefits accounts associated with specific employer-sponsored plans that may vary by employer. For specific details and eligibility requirements regarding each of these accounts, individuals can consult the information available on the Discovery Benefits website, where they will find comprehensive resources and guides to help navigate these options.