Flexible Spending Accounts and Health Savings Accounts
Both Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are easy to use, allowing you to pay qualified expenses with the swipe of a card.
flexible Spending Accounts and Health Savings Accounts
Choose the Plan that Works for You
HSA VS. FSA: WHAT’S THE DIFFERENCE?
HSA
Owned by you. It is similar to a personal bank account. It is yours to keep even if you leave the company or retire.
Rolls over and accumulates, year after year.
You can invest your HSA once your balance reaches $1,000 much like your 401(k).
You get a triple tax advantage with HSA. Contributions are pre-tax, your account grows tax-free and you’re not taxed on the money you use to pay qualified medical expenses.
FSA
You must spend your FSA dollars on current year expenses.
“Use it or lose it.” Unspent funds at the end of the calendar year are forfeited.
You may not invest your FSA contributions.
HEALTH SAVINGS ACCOUNTS (HSA)
An HSA is a personal bank account to help you save money for covered health care services and qualified medical expenses – now and into retirement.
HEALTH CARE FLEXIBLE SPENDING ACCOUNTS (FSA)
An FSA is an account to help you pay for covered health care services and eligible medical expenses within the calendar year.
Get Ready To Enroll
contact your personal care guide
