What are FSA's?

An FSA is a flexible spending account, you can set one of these up through your employer usually and it will take pre tax money from your paycheck and add it to an account you can use to pay medical bills or daycare, or even public transportation depending on which account you create.

One caution is that unspent money in the account at the end of the year will not normally come back to you so it is important to only put as much as you will use in there.