What Happens To My HSA/FSA If I Leave My Job?
Posted: September 28, 2020
Many employers today are offering health savings accounts (HSAs) or flexible spending accounts (FSAs) to employees. Both types of plans allow for tax-free contributions to cover qualifying medical expenses, as detailed by the IRS. A critical difference between the two plans is you keep the funds in an HSA if you leave your job, but you lose the funds with an FSA. What Is A...
What Happens To My Savings Accounts If My Company Closes?
Posted: October 13, 2019
Many employers today offer health savings accounts (HSAs), flexible spending accounts (FSAs), and 401(k) retirement savings accounts as part of their company group benefits. These types of savings accounts are a valuable part of an overall compensation package that employers use to attract and retain top talent. But the world business is uncertain, and companies may go under. What happens to your savings accounts if...
HSA Vs. FSA: Which Is Better?
Posted: September 13, 2019
Health Savings Accounts (HSAs) and flexible spending accounts (FSAs) are group benefits offered to employees that are similar in some ways. Both are accounts that allow you to make tax-free contributions to save for medical costs. However, there are several key differences between HSAs and FSAs. What Is An HSA? An HSA is a health savings account with tax advantages, used in combination with a...