Can I Have Both HSA and FSA? Understanding the Differences and Similarities

If you're wondering whether you can have both HSA (Health Savings Account) and FSA (Flexible Spending Account), the answer is not a simple yes or no. It's important to understand the differences and similarities between HSA and FSA to determine if you can have both and how they can complement each other.

HSA and FSA are both tax-advantaged accounts that allow you to save money for medical expenses, but they have key differences:

• HSA is only available to individuals with a high-deductible health plan (HDHP).
• FSA is available to anyone, regardless of their health insurance plan.
• HSA contributions roll over from year to year, whereas FSA contributions are
  

  If you're considering your options for medical savings, you might be asking, can I really have both an HSA and an FSA? The answer is a bit nuanced, as both accounts serve different purposes but can certainly coexist!