Can You Have an HSA and an FSA in 2019?

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are popular tools that help individuals save money on healthcare expenses. One common question that arises is whether you can have both an HSA and an FSA in 2019.

The short answer is yes, you can have both an HSA and an FSA in the same year, but with some limitations and considerations:

• Health Savings Account (HSA) Overview:
• HSAs are only available to individuals enrolled in a High Deductible Health Plan (HDHP).
• Contributions to an HSA are tax-deductible and withdrawals for qualified medical expenses are tax-free.
• There are annual contribution limits set by the IRS.
• Flexible Spending Account (FSA) Overview:
• FSAs are offered by employers and may have different rules and limits compared to HSAs.
• Contributions to an FSA are pre-tax and funds can be used for qualified medical expenses.
• FSAs have a
  

  While both Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) can be beneficial for managing healthcare costs, it's important to know that you can indeed have both in 2019, provided you follow certain guidelines.