Is an FSA the same thing as a Flex Plan?

Yes. This is just a distinction of terminology. An FSA is a Flexible Spending Account, which is the same thing as a Flex Plan. Other terms used interchangeably with “FSA” are Section 125 Plan, Cafeteria Plan and a mix of all of the above (i.e. Section 125 Flex Plan, Flexible Spending Plan). In addition, there are different types of accounts within an FSA: A Medical Reimbursement Account (MRA) and a Dependent Care Assistance Program account (DCAP). The MRA is used to hold funds to reimburse for medical expenses incurred during the plan year and the DCAP account is used to hold funds to reimburse participants for dependent care expenses.