Dollars & Sense: FSA vs. HSA – Two Very Different Accounts, Two Very Different Sets of Rules

What to Know:Both FSAs and HSAs let consumers use pre-tax money for eligible health expenses.The biggest difference is what happens to unused money: FSA balances may be forfeited, while HSA money belongs to you and rolls over indefinitely.Not everyone qualifies for an HSA: you generally need an HSA-eligible health insurance plan.In most cases you can’t have both an FSA and an HSA – and once you’re on Medicare, HSA contributions stop.ORLANDO, Fla. – Welcome to November in Florida! The weather is finally cooperating, the holidays are just around the corner, and for a few glorious moments, it feels like one of the best times of the year as we coast into Thanksgiving, Christmas, and the New Year.Then comes the realization that November also means open enrollment season. Because nothing says “holiday spirit” quite like looking at rising insurance costs and comparing deductibles, copays, and spending accounts.Aside from picking the best insurance to meet the needs of your family, for million