Now you can take the mystery out of pretax accounts. Check out the chart to see the details and differences for each account. They all have one thing in common — you can use the money for yourself, your spouse and your eligible dependents.
(Health Savings Accounts) |
FSAs |
HRAs
|
|
---|---|---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
Yes |
— |
— |
My employer can contribute |
Yes |
Yes |
Yes |
I can contribute |
Yes |
Yes |
— |
My employer owns the account |
— |
Yes |
Yes |
I own the account |
Yes |
— |
— |
I can take it with me when I leave my employer |
Yes |
— |
— |
I earn interest or can invest my money |
Yes |
— |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
— |
Yes |
Yes |
(Health Savings Accounts) |
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
Yes |
My employer can contribute |
Yes |
I can contribute |
Yes |
My employer owns the account |
— |
I own the account |
Yes |
I can take it with me when I leave my employer |
Yes |
I earn interest or can invest my money |
Yes |
I need to submit documentation to PayFlex to verify my expenses are eligible |
— |
FSAs |
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
— |
My employer can contribute |
Yes |
I can contribute |
Yes |
My employer owns the account |
Yes |
I own the account |
— |
I can take it with me when I leave my employer |
— |
I earn interest or can invest my money |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
Yes |
HRAs
|
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
— |
My employer can contribute |
Yes |
I can contribute |
— |
My employer owns the account |
Yes |
I own the account |
— |
I can take it with me when I leave my employer |
— |
I earn interest or can invest my money |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
Yes |