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Plan Comparison HSA/HRA/FSA




HSAHRAMedical FSA
Who is Eligible?An  individual who is covered under a qualified HDHP, is not covered by Medicare,   and cannot be claimed as a tax dependent
Any   employee, subject to employer's eligibility requirements.  Sometimes   tied to health plan (may require HDHP).
Any   employee, subject to employer's eligibility requirements
Who owns the account?EmployeeEmployerEmployer
Is the account portable? (Can it transfer after leaving employer?)YesUsually NoNo
Do the funds earn interest?Yes, Interest accrues tax-freeUsually No. The employer can credit interest if funds are invested.No
Do unused funds carry over to the next year?YesPossibly. This is not required and depends on the plan set up.Possibly. Some plans offer a rollover of unused funds up to $500. Check your plan details.
Who can contribute to the plan?Employee, Employer, IndividualEmployer OnlyEmployee and/or Employer.
Is the plan COBRA eligible?NoYesYes
Can funds be taken out for non-medical related expenses?Yes, however, non-medical withdrawals are taxable and subject to a 10% penalty if under the age of 65 at time of withdrawal.NoNo
Maximum ContributionFor 2019, $3,500 if the person has single coverage, $6,900 if family coverage.
Limit set by the employer
Limit set by the employer (Up to $2,700 for 2019).