What Happens if I Don’t Use My FSA Funds by the End of the Plan Year?
Posted: December 22, 2024
Original post 5-13-24 Insuranceneighbor.com Given the complexities associated with the health insurance industry in the United States, more people are turning to tax-advantaged alternatives like Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). Employers offer FSAs as part of a group benefits package. Unfortunately, funds in an FSA are subject to a “use-it-or-lose-it” rule, where unused funds are forfeited at the end of the...
What can I use HSA funds for?
Posted: November 14, 2024
Original post 3-13-24 insuranceneighbor.com Health Savings Accounts (HSAs) have become a popular tool for managing healthcare costs while enjoying tax advantages. Understanding the scope of qualified medical expenses that can be paid for with HSA funds is crucial for maximizing the benefits of this financial tool. Let’s delve into the specifics of what you can use HSA funds for. Qualified Medical Expenses HSAs are designed...