Health account comparison
Health accounts offered through employers or by banks and other financial institutions can help you save money and make it easier to pay for health care. The three most common health accounts are:
- Health savings accounts (HSAs)
- Flexible spending accounts (FSAs)
- Health reimbursement accounts (HRAs)
What's the difference between an HSA, FSA and HRA?
- FSAs can be used with any type of health plan and are offered through and owned by employers.
- HRAs must be integrated with a health plan and are offered through and owned by employers.
- HSAs are sometimes offered by employers, but are owned by the account holder, and they can only be used with high-deductible health plans.
TAXES & YOUR HSA
To enjoy the tax benefits, you also need to report HSA activity to the IRS and keep track of your spending in case you have to prove you used funds for qualified medical expenses.
Visit our HSA tax center
YOUR HEALTH, YOUR MONEY
Take a Health Savings Checkup to see how much health care could cost you when you retire. You'll also get a plan to help you:
- Stay healthy
- Spend less on health care
- Save more for your future