Many people sign up for flexible spending accounts, or FSAs, because they allow you to contribute money on a pre-tax basis to cover healthcare expenses. But despite their name, FSAs aren't so flexible.

With an FSA, you're required to commit to an annual contribution ahead of your plan year and can't make changes to that number unless you experience a qualifying life change, like a marriage or divorce. Also, FSAs require you to spend down your plan balance every year or risk forfeiting funds.

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Source Fool.com