https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 27 May 2026 15:57:00 +0000 https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842107 Fri, 29 Aug 2014 12:25:59 +0000 Mrs.Pinecone316 1842107@https://boards.hellobee.com/ <p>I have a FSA with my HMO insurance plan to cover things that my insurance didn't like my infertility costs and acupuncture. </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842065 Fri, 29 Aug 2014 11:54:02 +0000 Meowkers 1842065@https://boards.hellobee.com/ <p>Another important thing to note is that HSA contributions you make are TAX FREE! The money is taken out of your paycheck without getting taxed. When you use the funds to pay for medical needs that are not taxed either. It's a great little tax shelter. There is a limit on how much you can contribute to the HSA per year, (I think around $6K for a family but I'm not sure.) The money is yours forever and can be rolled into other investments down the road, (like an IRA, etc.) </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842031 Fri, 29 Aug 2014 11:25:04 +0000 MediaNaranja 1842031@https://boards.hellobee.com/ <p>Excellent, thank you! All I needed to know!! I'm scheduled to sit down w/ HR next week, so I'll start making lists of things over the weekend :happy: </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842030 Fri, 29 Aug 2014 11:24:28 +0000 ShootingStar 1842030@https://boards.hellobee.com/ <p>Another important difference is that you can change the amount of the HSA contributions at any time, but with the FSA you're stuck with the amount. </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842027 Fri, 29 Aug 2014 11:20:32 +0000 mkp17 1842027@https://boards.hellobee.com/ <p>Mrs. Lion is correct that an HSA can only be coupled with a high deductible plan. If you are enrolling in the high deductible option at your employer i would for sure enroll and contribute to the HSA instead of the FSA.<br /> FSA funds are available immediatly and HSA funds are only availble once they are in the account. (think if it like a bank account). It can be rolled over and taken with you if you choose to leave that employer where FSA funds cannot be rolled or taken with you.<br /> They both have certain restrictions on what you can use them for so make sure you look into that.<br /> High deductible plans are usually a lot less in monthly premium, you just need to be ready in case you have a medical need arise so you can cover the higher out of pocket amount.<br /> It's worth sitting down with HR and having them explain your plan options in detail and then working out which would be the best option based on how often you go to the MD, what Rx use fill regularly, etc.<br /> \Good luck at the new job ;) </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842023 Fri, 29 Aug 2014 11:17:55 +0000 fairy 1842023@https://boards.hellobee.com/ <p>HSA funds never expire whwre FSA funds do usually at the end of the year. The insurance plan may be different for them too, HSAs are for high deductible plans. We have an HSA and I like it, or deductible is high but not that high, especially for the family. We also use it to pay for dental work, medicine, etc. </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1842003 Fri, 29 Aug 2014 10:59:11 +0000 Mrs. Lion 1842003@https://boards.hellobee.com/ <p>I believe an hsa can only be used when you have high deductible insurance. You can use it as a place to save so that you have money to pay your medical expenses, since it takes a lot to get to the deductible. Sometimes companies will contribute a certain amount as part of your benefit. An fsa is separate, has to be used within a year, and is available no matter what kind of insurance you have. </p> https://boards.hellobee.com/topic/hsa-vs-fsa#post-1841999 Fri, 29 Aug 2014 10:56:32 +0000 MediaNaranja 1841999@https://boards.hellobee.com/ <p>Ok bees...I'm just starting a new job and getting enrolled in a new health plan, etc.... Can someone explain the difference between an HSA and an FSA? As far as I can tell the main difference is that funds in the HSA never expire. Is there an advantage in enrolling in one vs. the other? (My employer offers both options).</p> <p>I've always just cobbled together various PT-jobs and paid for health expenses OOP...this is all new to me!!</p> <p>Any advice/input is appreciated, thanks! </p>