Can You Contribute to an HSA and FSA in the Same Year?

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are popular ways to save money for medical expenses, but can you contribute to both in the same year? Let's find out!

HSAs and FSAs both offer tax advantages and help individuals save for healthcare costs, but they have different rules and limitations when it comes to contributing to both in the same year.

While you cannot contribute to both an HSA and FSA in the same year, there are some scenarios where you may be able to have both accounts:

• If you have an HSA, you can still have a limited-purpose FSA for dental and vision expenses
• If you have an HSA, you can have a dependent care FSA for childcare expenses

It's important to understand the rules of each account and how they interact with each other to maximize your healthcare savings.

Are you curious if you can contribute to both a Health Savings Account (HSA) and a Flexible Spending Account (FSA) in the same year? While it may seem tempting to double down on your tax-advantaged savings, the rules can be a bit tricky.

Both HSAs and FSAs provide valuable tax benefits that can help individuals prepare for unexpected medical costs, but they operate under different guidelines. Generally, you can't contribute to both accounts simultaneously. However, if you have an HSA, you can still benefit from a limited-purpose FSA specifically used for dental and vision expenses.