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Flexible Savings Accounts (FSA), Health Savings Accounts (HSA), and Health Reimbursement Arrangements (HRA) are types of health care savings accounts that allow you to pay for medical expenses pre-tax.
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Flexible Spending Account |
Health Savings Account
(HSA) |
Health Reimbursement Arrangement
(HRA) |
| Who is this available to? |
Group members |
Individual and group members enrolled in an HSA qualified high-deductible health plan and not covered by any other non-qualifying health plan (including Medicare) |
Group members |
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Who funds it?
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You
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You and/or your employer
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Your employer
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What kind of plan can I use it with?
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Any*
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HSA qualified High Deductible Health Plan |
Any Health Plan but typically a higher deductible Health Plan |
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If I don’t use all the money in the account during the year, what happens to it?
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You lose it.
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It rolls over to the next year.
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Depending on the plan design, it may roll over to the next year.
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Do I keep the money if I leave my employer?
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No
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Yes
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No
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Can I use it for non-medical expenses?
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No
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Yes, after age 65**
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No
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*If you are enrolled in an HSA-qualified plan, you must use a limited-purpose flexible spending account.
**Even at age 65 or older, HSA withdrawals for non-medical expenses are subject to income tax.
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