Key Differences Between a FSA and a HSA
Edited
Health Savings Account (HSA) | Flexible Spending Account (FSA) |
Must be enrolled in a High-Deductible Health Plan (HDHP) | Cannot be enrolled in a High-Deductible Health Plan (HDHP) |
Funds roll over from year to year | Funds must be used by year-end or they are forfeited |
Account is owned by the individual; funds remain yours even if you change jobs | Account is owned by the employer; funds do not follow you if you change jobs |
Contribution amounts can be adjusted anytime within the annual maximum | Contribution amount is locked in at enrollment and can not be changed. |
You must be on a Nourish medical plan (HDHP) | You do not need to be on the Nourish health plan |