Can I Do FSA and HSA? Understanding the Differences and Benefits

If you're wondering if you can have both an FSA (Flexible Spending Account) and an HSA (Health Savings Account), the short answer is yes, but with some limitations. Understanding the key differences between FSA and HSA will help you make the most of these healthcare savings options.

Here's what you need to know about doing both FSA and HSA:

Differences Between FSA and HSA:

• Eligibility: FSAs are available to anyone offered by their employer, while HSAs require you to be enrolled in a high-deductible health plan (HDHP).
• Contribution Limits: FSAs have a maximum annual contribution limit set by the IRS, while HSAs have higher contribution limits and the funds roll over each year.
• Ownership: With an FSA, your employer usually owns the account, and the funds are
  

  Yes, you can contribute to both an FSA (Flexible Spending Account) and an HSA (Health Savings Account), but it's essential to understand how they work together and separately.