Can I Have an HSA and FSA Account at the Same Time?

Many people wonder if they can have a Health Savings Account (HSA) and a Flexible Spending Account (FSA) at the same time. The short answer is yes, but there are some limitations and rules to consider.

HSAs and FSAs are both tax-advantaged accounts that help individuals save money for medical expenses. They have some similarities, but there are key differences between the two:

• HSAs are available only to individuals with a high deductible health plan (HDHP), while FSAs can be offered by employers regardless of the type of health insurance plan.
• HSAs have higher contribution limits compared to FSAs.
• Unused funds in an HSA can rollover year after year, whereas most FSAs have a
  

  Many people often ask, "Can I have both an HSA and an FSA at the same time?" The answer is, yes! However, it's important to understand the specific rules and limitations that apply to each account.