Flexible Spending Account (FSA) is a tax-advantage account that if eligible will pay for medical expenses.
Examples of FSA expenses: Contact lenses, Contact lens solution, Doctor Office co-pays and glasses.
FSA funds expire at the end of the year, it’s best to use your funds before they expire. After the end of the year, the following year starts with a renewed FSA fund amount. If you are interested in FSA, contact your provider in regards to enrolling.
Health Savings Account (HSA) is a saving account for tax payers for medical expenses and save on future medical expenses.
Examples of HSA expenses: Contact lenses, Doctor Office co-pays and eyeglasses.
HSA funding builds up in amount even when you have a remaining balance. If you don’t have HSA, speak to your company or provider about joining a HSA program.