Why should I participate in my employer's cafeteria plan or FSA?

In 2016, medical and dental expenses are deductible to the extent they exceed 10 percent of your adjusted gross income (AGI). As such, many people are not able to take advantage of them. There is, however, a way to get around this if your employer offers a Flexible Spending Account (FSA), Health Savings Account or cafeteria plan. These plans permit you to redirect a portion of your salary to pay these types of expenses with pre-tax dollars.
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