| HSA Health Savings Account | HRA Health Reimbursement Arrangement | FSA Flexible Spending Account | |
| 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? | Employee | Employer | Employer |
| Is the account portable? (Can it transfer after leaving employer?) | Yes | No | No |
| Are Investments available? | Yes | No. | No |
| Do unused funds carry over to the next year? | Yes - even if you update health plans, employers or retire | Possibly. This is not required and depends on the plan set up. | Possibly. Some plans offer a rollover of unused funds up to $660. Check your plan details. |
| Who can contribute to the plan? | Employee, Employer, Individual | Employer Only | Employee and/or Employer. |
| Is the plan COBRA eligible? | No | Yes | Yes |
| Adjust Contribution Amount? | Yes, anytime. | N/A - Employer sets amount at start of plan year | During annual enrollment only (or with qualifying event) |
| Do funds expire? | Never | Yes | Yes |
| 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. | No | No |
| Maximum Contribution | For 2025, $4,300 if the person has single coverage, $8,550 if family coverage. | Limit set by the employer | Limit set by the employer (Up to $3,300 for 2025). |
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