![]() Headphones Tech All Headphones Over Ear Noise Canceling Wireless Earbuds Outdoor Home & Kitchen All Outdoor Raised Garden Boxes Garden Hoses Gas Grills Beach TowelsĮlectronics Tech All Electronics Tvs Wifi Routers Gaming Consoles Streaming Devices Office Home & Kitchen All Office Office Chairs Standing Desks Desk Organizers Seat Cushions Under Desk Ellipticals Small Home Appliances Home & Kitchen All Small Home Appliances Vacuums Air Conditioners Space Heaters Humidifiersīedding & Bath Home & Kitchen All Bedding & Bath Sheets Bath Towels Silk Pillowcases Duvet Inserts Kitchen Appliances & Tools Home & Kitchen All Kitchen Appliances & Tools Coffee Makers Cookware Air Fryers Mixers Kitchen Gadgets Sleep Wellness All Sleep Mattresses Pillows Blackout Curtains Sound Machines ![]() Health Wellness All Health Meal Kit Delivery Kn95 Masks Air Purifiers Eco-Friendly Laundry Detergentsįitness Wellness All Fitness Exercise Bikes Dumbbells Walking Shoes Fitness Trackers Oral Care Wellness All Oral Care Electric Toothbrushes Toothpastes Whiteners Floss Hair Care Wellness All Hair Care Shampoos Purple Shampoos Thinning Hair Head Shavers Flat Irons Hair Dryers Review your health plan details to learn more.Skin Care Wellness All Skin Care Moisturizers Sunscreens Acne Teen Acne Rosacea Lip Balms Under Eye Patches ![]() You can also use them together if you opt out of your HRA reimbursement of qualified medical expenses (you can keep reimbursement for premiums). For example, you can’t use HSA funds to cover medical expenses that were reimbursed by your employer in an HRA. You can use an HRA and an HSA at the same time if you are enrolled in a high deductible health plan (HDHP), but the IRS has specific rules as to how they work together. By tapping into your limited-purpose FSA first, you can save more of your HSA dollars for future expenses. In this case, you can use your limited-purpose FSA only for certain expenses, like dental or vision care, until you reach your health plan’s deductible. One exception to this rule is pairing an HSA with a limited-purpose FSA (also called an HSA-compatible FSA, or post-deductible FSA). It’s uncommon to have an FSA and HSA at the same time, but not impossible. Funds from the HRA are then used to cover other medical expenses. If you have an FSA, expenses typically come from that account first. It gets tricky due to the possibility of double-dipping. The simple answer is this: It depends on your circumstances. HSA HRA FSA © 2021 United HealthCare Services, Inc, All Rights Reserved. Administrative services provided by United HealthCare Services, Inc. Nice! Now that you know how each kind of account works, you’re ready to get the most out of your health care dollars.ĭISCLAIMERS: [Insurance coverage provided by or through UnitedHealthcare Insurance Company or its affiliates. Which of these is only funded by your employer?Īnd which one has a “use it or lose it” rule? Those are some of the similarities and differences between these three accounts. So, it’s a good idea to avoid putting more money into your FSA than you can spend in a plan year. The big difference with FSAs is they may follow the use it or lose it rule, meaning if you don’t spend your FSA funds within your plan year, you can’t carry it over to the next. You or your employer contribute pretax payroll deductions, which you can use for eligible medical and dependent care expenses. Moving onto our last type: the flexible spending account, or FSA.Īlthough they are offered through your employer, FSAs don’t have to be tied to a health plan. ON-SCREEN TEXT: [Flexible spending account As long as you have money in your HRA, you can use it to help pay for qualified out-of-pocket medical expenses.īut, because HRAs are only funded by your employer, you can’t take your HRA with you if you change jobs - it belongs to your employer. In some ways, a health reimbursement account, or HRA, is similar. ON-SCREEN TEXT: [Health reimbursement account Since it’s your HSA, the money in it stays with you even if you change employers, health plans or you retire. There’s no limit to how much you can save over time, but there are annual contribution limits. Spend your HSA dollars on qualified out-of-pocket medical expenses - and that’s also tax-free. You’re responsible for funding it - and your employer, family and others can put money into it if they choose.Įvery dollar you contribute to and save in your HSA is tax-free. Let’s take a look at where they’re alike - and where they’re not - starting withĪ few things to know: you can open an HSA when you enroll in certain high deductible health plans. You may have heard of any one of them:Įach account works in its own way to help you save and pay for eligible out-of-pocket medical expenses. Many health plans include an account designed with money-saving opportunities in mind.
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