flexible spending account

Parents can currently set aside pretax dollars in a flexible spending account to spend on child-care costs, for example.

You can also use a health savings account or a flexible spending account to pay for them.

But there are ways to keep health care costs lower, including taking advantage of a flexible spending account or health savings account, comparing pharmacy prices on medications and using a care manager through your insurance.

Pretax deductions: Any money exempt from income taxes, including medical or dental insurance, or money you elected to put into a flexible spending account or workplace retirement plan.

Broadly, just about anything you’d need to restock a medicine cabinet — a first-aid kit, bandages, allergy medicine, heartburn treatment, antibiotic ointment, pain relievers, contact solution — can be purchased with your flexible spending account.