Current tax law allows you to pay for certain predictable medical and child care expenses with before-tax dollars rather than after-tax dollars. To do this, you can set aside money in one or both of the PHH Mortgage flexible spending accounts each pay period, and be reimbursed for uninsured medical or dependent care expenses. Because the funds you allocate to this type of account are not considered part of your taxable salary, you pay income tax on a reduced salary amount.