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HSAs, FSAs and HRAs

 

AT A GLANCE
Let’s simplify pretax accounts

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. 

 

HSAs

(Health Savings Accounts)

FSAs 
(Flexible Spending Accounts)

HRAs
(Health Reimbursement Arrangements)

 

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

HSAs

(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 
(Flexible Spending Accounts)

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
(Health Reimbursement Arrangements)

 

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