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How does an HRA differ from a health care flexible spending account (FSA)?

April 26, 2017account differ flexible FSA health care HRA Spending

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How does an HRA differ from a health care flexible spending account (FSA)?

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An HRA is an employer-funded account. You can not contribute any money to the account. Unused HRA funds can roll-over from year to year (within the time limits set by Purdue University). A Flexible Spending Account is an employee-funded account. Unused FSA funds are forfeited at the end of the plan year. Both accounts allow you to reimburse yourself for any IRS 213(d) expenses on a tax-free basis.