HSA vs. FSA Explained: Main Benefits And Differences

A Health Savings Account (HSA) allows you to contribute funds into the account and use those funds to pay for medical expenses. A flexible spending arrangement (FSA) allows you to contribute funds into the account and use those funds to pay for medical expenses.

Did we just repeat ourselves? On the surface, an HSA and FSA don’t seem any different. But there are differences.

There are differences in contribution amounts, employer contributions, and qualifications based on your health plan and employment status.

Let's break down the similarities and key differences between an HSA and FSA.