Does all this apply if you buy your health insurance on your own?
“Does all this apply if you buy your health insurance on your own?”
Yes, if your employer offers an FSA. It’s a win/win for the employer as the FSA deductions are taken before social security taxes are taken out of your pay. So they’re saving 7%+ on whatever you choose to contribute. Unfortunately, I don’t think your health care premiums can be applied against your account. But all your co-pays, deductibles, prescriptions, OTC drugs, etc. should be eligible. There are some different rules if you have one of those special policies with an HSA.
If you own your own business, you can go through a HR/payroll contractor to set one of these up.
(disclaimer: I’m not an accountant or HRO type. See your accountant or HRO professional if you need assistance)