If you aren't taking advantage of your company's Flexible Spending Account options, you may be missing out on serious savings. FSAs take an amount of your choosing from your paycheck, pretaxes, and put it aside to pay for necessities. Here's how each type of account can help your family, plus some simple tips for using FSAs to the fullest.

transportation

Tax-free bucks for commuting!

You may not know it covers: The cost of leaving your car wherever you commute from; gas, if you're part of a van pool; and public-transit costs.

It won't cover: Gas, if you're driving solo to work.

health extras

These funds can be used for health-related expenses that your health insurance doesn't cover, like copays, deductibles, prescriptions, and certain over-the-counter items.

You may not know it covers: Ovulation-predictor kits, acupuncture, eyewear, dental work, removing lead-based paint from your house, routine prenatal care, diaper-rash ointment, screenings for cancer, and treatment for mental-health disorders.

It won't cover: Vitamins, cosmetic surgery, or nonprescription drugs.

babysitting

This money can cover up to $5,000 in child-care expenses (for children under 13) incurred while you and your spouse are working full- or part-time, in school full-time, or looking for a job.

You may not know it covers: Summer day camps, nursery or preschool, and meals you provide for a babysitter.

It won't cover: Overnight summer camps, child care you line up so you can do volunteer work, or care for times when you're out sick from work.