HSA & FSA

HSA

A Health Savings Account (HSA) is a tax-favored personal savings account that pairs with the HDHP (High Deductible Health Plan) Medical plan.  An HSA always belongs to you and the funds roll over from year to year.  Furthermore, funds are contributed pre-tax and are used tax-free when spent on IRS-approved Medical, Dental, and Vision expenses.

Flexible Spending Account

A Healthcare Flexible Spending Account (FSA) is a personal account that works with an employer’s health plan, allowing employees to set aside a portion of their salary pre-tax to pay for qualified medical expenses. Employees may then use these funds to pay for expenses such as prescription drugs, co-pays, deductibles, procedures, and other out-of-pocket medical costs.