An HSA, or health savings account, and a FSA, or flexible spending arrangement, are both accounts that allow people with health insurance plans to put away income for medical costs. Medical costs, also referred to as qualified expenses, include co-pays, deductibles and monthly prescription costs.
A primary benefit to HSA’s and FSA’s are that they are TAX FREE!
A primary difference is that HSA’s allow you to roll over unused contributions to next year while FSA’s are “use it or lose it.”
If you have a flexible spending arrangement account (FSA) with an unused balance and require laser vision correction or suffer with Pterygium, schedule an appointment with Dr. Michel before the end of the year.