How does the Flexible Spending Account/Unreimbursed Healthcare account compare with a Health Savings Account?
The Health Savings Account (HSA) under IRS Section 223 is available only when there is a high deductible insurance plan (deductible of at least $1,000). Amounts are set aside in a trust account and are if not used can be carried over. Reimbursement generally follows the guidelines for items allowed in Publication 502 governing Schedule A of the Form 1040.
Related Questions
- Im on the HDHP and participate in the Health Savings Account (HSA). Can I also participate in the Health Care Flexible Spending Account (FSA) through WageWorks?
- How often can I file claims on my Health Flexible Spending Account (Health FSA) / Unreimbursed Medical (URM) Account?
- How does the Flexible Spending Account/Unreimbursed Healthcare account compare with a Health Savings Account?
