How Do I Know If I Have an HSA or FSA? - Understanding the Differences

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are two popular ways to save money for medical expenses, but many people may not be sure which one they have. Here's how you can determine if you have an HSA or FSA:

Check with Your Employer: Your employer should provide you with information about the type of account you have as part of your benefits package.

Review Your Account Documentation: Look through any paperwork or online account information to see if it mentions an HSA or FSA.

Ask Your HR Department: If you're still unsure, reach out to your company's HR department for clarification.

HSAs and FSAs have key differences in terms of eligibility, contribution limits, rollover rules, and more. Understanding which account you have can help you make the most of your healthcare savings.

Health savings accounts (HSAs) and flexible spending accounts (FSAs) serve as excellent tools for managing medical expenses, yet it's common for individuals to be uncertain about their specific account type. To find out if you have an HSA or FSA, start by checking with your employer for clear guidelines on your benefits package.