Family Health Budget - Compare Accounts

What is it?	An account that allows you to set aside pre-tax dollars for health expenses > Read More	A tax-free, interest-bearing account for health care expenses now and in future years > Read More	An employer-funded account to help you pay for health care expenses > Read More

Who can have it?	• Employees • Retirees	• Employees • Self-employed • Retirees with a High Deductible Health Plan	• Employees • Retirees

Do I have to get a certain kind of health plan?	You can have any type of health plan, including an HMO plan	To contribute, you need to have a High Deductible Health Plan and meet other eligibility rules	• Your employer decides • Usually a PPO plan with a high deductible

Calculate	FSA Calculator	HSA Calculator

Who can put money in it?	You or your employer	You, your employer, and anyone else	Employer only

Is there a limit on how much I can put in the account?	Your employer sets a minimum and maximum annual contribution	The maximum HSA contribution is based on your health plan deductible and other regulations	You can't put money into the account

When can I use the money?	Entire amount available at the beginning of the plan year	You can spend money contributed to-date	Entire amount usually available at the start of the plan year

What's an eligible expense?	Items on employer's list of approved expenses (usually medical, dental, pharmacy, and vision expenses)	Items on the IRS list of approved expenses (medical, dental, pharmacy, and vision expenses)	Items on employer's list of approved expenses (usually medical, dental, pharmacy, and vision expenses)

What if I don't spend all my funds during the plan year?	They don't stay in your account – use ‘em or lose ‘em	Unspent funds stay in your account	It's your employer's call, but the funds typically stay in your account for the following year

Can I take it with me if I leave my current employer?	No	Yes, including any money your employer put in your account	Usually no