Health FSAs (flexible spending arrangements
) are employer-established benefit
plans - these may be offered in conjunction with other employer-provided benefits as part of a cafeteria plan
. Employees may not establish such plans with external organizations.
Thus - if your employer doesn't offer FSA or if you do not work - that option is not for you.
While you may NOT open FSA account through an external organization, still you MAY open HSA through an external organization.
To be eligible for HSA - either via your employer or at the external organization - you should be covered by the high deductible health plan (HDHP) - as outlined above.
If you are covered by a regular health insurance at your job - the only option to deduct ADDITIONAL medical
and dental expenses - as itemized deduction
on schedule A - www.irs.gov/pub/irs-pdf/f1040sa.pdf
- line 1.
All qualified medical expenses may be reimbursed from FSA or HSA.
For a list of qualified medical expenses - see IRS publication 502 - www.irs.gov/pub/irs-pdf/p502.pdf
As you see dental expenses are included.
Let me know if you need any help.
Be sure to ask if any clarification needed.