HSA, FSA, HRA
Many people are already familiar with the other types of medical savings accounts used by consumers today: Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs).
At first glance, the HSA seems very similar to these other solutions. But there are some important differences, outlined in the following table.
| Health Savings Account
(HSA) | Flexible Spending Account
(FSA) |
Health Reimbursement Arrangement
(HRA) |
|---|
| Who owns the account? | Individual | Employer | Employer |
|---|
| Who can make contributions? | Individual and/or Employer | Employee | Employer Only |
|---|
| Does account earn interest? | Yes | No | No |
|---|
| Is account portable? |
Yes | No | No |
| Do funds roll-over year to year? | Yes | No | Sometimes |
|---|
|
