HSAs and FSAa are nifty spending accounts meant for health expenses. I meet lots of clients that don’t know they have them, don’t know how they work, and don;t know what they can be used for. Many of these dollars (especially FSAs that don;t roll over) go wasted every year. Here are the differences between the 2 accounts and what they can be used for.
HSA:
Health Savings Account
- Roll over year after year
- Not controlled by the employer, controlled by you!
- Reserved for high deductible plans
FSA:
Flexible Spending Account:
- DOES NOT roll over
- Use it or lose it
- Controlled by employer
You can use these accounts for over the counter medication, breast pump supplies, menstrual care products, contact lenses, dental care, eyeglasses and more.
I’m biased, but the best way to spend those extra dollars is to invest in your health with preventative, proactive care. Take advantage of our 1 week of open enrollment to grab 12 monthly performances plus visits for the price of 10!
As we near the end of the year, I feel compelled to remind those with Flexible Spending Accounts (FSAs) that these dollars don’t roll over. They go back to your employer. So, don’t waste them. Use them on things you need now, or ask us questions about what a maintenance visit can do for you!
Holler at me with questions!
Dr. Rachel Atufunwa PT, DPT