Can You Have an HRA and an HSA at the Same Time?

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Having both accounts: what’s allowed

Health Reimbursement Arrangement (HRA) and Health Savings Account (HSA) are both popular health plans that can help you save money on medical expenses. But can you have both at the same time?

While you can have both an HRA and an HSA, there are some limitations and considerations to keep in mind:

Contribution limits and first-dollar coverage

• Having both accounts can affect your HSA contribution limits
• You cannot contribute to an HSA if you are covered by an HRA that provides first-dollar coverage before the deductible is met
• Your employer can dictate if you are eligible to have both accounts simultaneously

One key point to remember is that your contributions to an HSA may be limited if you also hold an HRA. Additionally, if your HRA offers first-dollar coverage—meaning it pays for some expenses before your insurance deductible is met—you cannot contribute to your HSA. Always check with your employer or HR for specific eligibility criteria.

Understand rules and consult HR

If you have both an HRA and an HSA, it's essential to understand the rules and restrictions of each plan to maximize your savings and benefits. Consult with your HR department or a financial advisor to determine the best approach for your situation.

Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) are both excellent tools for managing healthcare costs, but it's important to know how they interact. While you can maintain both an HRA and an HSA, be cautious about the rules that govern them.