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Note that the tax benefits of a Health Savings Account are much better than the Flex Spending Account, if you can get it. [0] https://www.investopedia.com/insur
by intopieces 8y ago
Note that the tax benefits of a Health Savings Account are much better than the Flex Spending Account, if you can get it. [0] https://www.investopedia.com/insurance/hsa-vs-fsa/ https://www.investopedia.com/insurance/hsa-vs-fsa/
HSA contributions are:
* Deducted from your paycheck and skip all taxes
* Allowed to earn interest, tax-free
* Carried from year to year
* Tax-free when used on health expenses
* Flexible amount
FSA contributions are:
* Deducted from your paycheck and skip all taxes
* Not able to accrue interest
* "use it or lose it" per year
* Fixed Amount
- jasonparallel 8y agoHSA contributions do not have to be deducted from you paycheck and you don't have to use the provider that your employer has selected.