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Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) both help people pay eligible healthcare expenses with tax-advantaged funds. However, they differ significantly in eligibility, ownership, contribution limits, rollover rules, access to funds, and what happens after employment ends. An HSA belongs to the individual and can provide long-term savings and investment opportunities. A health …

Continue reading “HSA vs. FSA: What’s the Difference and Which Is Right for You?”

There are several different tax-favored health plans available in the US. Your employer may choose to offer one as part of your employee health benefits, but exactly which plan will vary for each company. An FSA is a Flexible Spending Arrangement or Flexible Spending Account, which allows employees to be reimbursed for qualified medical expenses.