HSA vs FSA
- All money contributed pre-tax
- Available for use for IRS qualified medical expenses
- Contribution rate can be adjusted during the year
- Can reimburse yourself later in year
- Savings Tool: If you don’t spend the money during the alendar year, it rolls over to the next.
- Can be used for medical Expenses in retirement, including long term care premiums.
All money contributed pre-tax
Available for use for IRS qualified medical expenses
Contribution rate fixed and non-adjustable
Fully funded day 1
- Spending Account Only:
No savings function. Use it or lose it.