Can You Have a HSA and a FSA at the Same Time?

If you're exploring different options to manage your healthcare expenses, you may have come across Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Both of these accounts offer tax advantages and can help you save money on qualified medical expenses. But can you have a HSA and a FSA at the same time? Let's delve into this question and find out.

HSAs and FSAs are two different types of accounts that help individuals save for medical expenses. Here's a breakdown of each:

• Health Savings Account (HSA):
• Requires a high-deductible health plan (HDHP)
• Contributions are tax-deductible
• Can be used for qualified medical expenses
• Unused funds roll over year to year
• Owned by the individual

• Flexible Spending Account (FSA):
• Does not require an HDHP
• Contributions are pre-tax
• Can be used for qualified medical expenses
• May have a
  

  If you're exploring different options to manage your healthcare expenses, you may have come across Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Both accounts provide you with unique benefits and can help maximize your savings when it comes to medical expenses. But can you really have both a HSA and a FSA at the same time? Let’s break this down together.