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  • Employers/Brokers
  • COVID-19 Support

    • 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