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Comparison of Tax-Advantaged Health Savings Plans
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Health FSAs |
HSAs |
HRAs |
| Healthcare plan requirements |
None |
Must be paired with a High Deductible
Health Plan with deductibles of at
least $1,000 for single coverage, $2,000
for families |
None, but usually paired with a High
Deductible Health Plan |
| Who contributes |
Usually the employee, but the employer
may also contribute |
The employee and/or employer |
Employer only |
| Portability |
Can only be used by employees or
by former employees who still retain
their FSA through COBRA |
Funds are owned by the employee and
therefore go with the employee from
job to job and even into retirement. |
The employer determines if and how
an employee can access his/her unused
balance if the employee no longer works
for the company. |
| Can amounts be carried over from
year to year? |
No. Money contributed to an FSA must
be used within the plan year or the
employee loses it (employer has option
of extending that deadline by 2 ½ months). |
Yes |
Yes |
| Contribution limits |
No legal limits, but the employer
may enforce its own limit |
100% of the deductible, not to exceed
$2,650 for individuals or $5,250 for
families. So if an individual has a
deductible of $1,000, that is his or
her contribution limit. If the deductible
is $3,000, the limit would be $2,650 |
No legal limits, but employer may
enforce its own limit |
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