HSA vs FSA Quick Comparison
| Feature | HSA | FSA |
|---|---|---|
| Roll Over Funds | Yes | Usually No |
| Investment Options | Yes | No |
| Employer Required | No | Yes |
| Portable | Yes | No |
| Requires HDHP | Yes | No |
What Is an HSA?
An HSA is a tax-advantaged account available to individuals enrolled in a qualifying High Deductible Health Plan (HDHP).
Benefits include:
- Tax-deductible contributions
- Tax-free growth
- Tax-free qualified withdrawals
What Is an FSA?
An FSA is an employer-sponsored account that allows employees to set aside pre-tax money for eligible medical expenses.
Which Is Better?
For many individuals, an HSA offers greater long-term flexibility because funds roll over indefinitely and can be invested. However, FSAs may be valuable for employees who are not eligible for an HSA.
Can You Have Both?
In some situations, yes. Eligibility rules vary depending on the type of FSA offered. A limited-purpose FSA (dental and vision only) or dependent care FSA can often coexist with an HSA.
Frequently Asked Questions
Can I have both an HSA and FSA?
In some situations, yes. Eligibility rules vary depending on the type of FSA offered.
Do HSA funds expire?
No. HSA funds remain yours indefinitely.
Do FSA funds expire?
Many FSAs operate under a use-it-or-lose-it rule, although some plans offer carryover or grace period options. See our FSA deadline guide.
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