What is an HSA vs FSA? Understanding the Differences

Check eligibility on the go — browse 7,000+ HSA-eligible products in the free app.

What HSAs and FSAs do together

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are both valuable tools that can help you save money on healthcare expenses, but they have key differences that you need to be aware of.

HSAs and FSAs are both accounts designed to help individuals set aside pre-tax money to cover qualifying medical expenses. However, there are some important distinctions between the two:

Eligibility and employer availability

• Eligibility: HSAs are only available to individuals with a high-deductible health plan (HDHP). FSAs are typically offered by employers as part of their benefits package.
• Roll-Over: With an HSA, the funds roll over from year to year and are yours to keep, even if you change jobs. FSAs are Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are essential financial tools that enable individuals to save on medical expenses, yet they differ significantly in structure and benefits.

• HSAs are only available to individuals with a high-deductible health plan (HDHP).
• FSAs are typically offered by employers as part of their benefits package.

Roll-over ownership versus job changes

• With an HSA, the funds roll over from year to year and are yours to keep, even if you change jobs.
• FSAs are Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are essential financial tools that enable individuals to save on medical expenses, yet they differ significantly in structure and benefits.

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are essential financial tools that enable individuals to save on medical expenses, yet they differ significantly in structure and benefits.