What’s the difference between a Health Savings Account (HSA) and a Flexible Spending Account (FSA)?
• The tax benefits of both plans are quite similar, yet there are several differences. HSA balances roll over from year to year and continue to grow tax deferred. Money in your FSA plan must be spent by the end of the Plan Year or you lose it. Remember, that FSA’s can save you money even if you don’t spend every dollar. Also, you can open an FSA plan without participating in a HDHP.
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?
- WHAT IS THE DIFFERENCE BETWEEN A FLEXIBLE SPENDING ACCOUNT (FSA) AND A HEALTH SAVINGS ACCOUNT (HSA)?
- What’s the difference between a Health Savings Account (HSA) and a Flexible Spending Account (FSA)?
