AT A GLANCE
Let’s simplify pretax accounts
Now you can take the mystery out of pretax accounts. Check out the chart to see the details and differences for each account. They all have one thing in common — you can use the money for yourself, your spouse and your eligible dependents.
(Health Savings Accounts) |
FSAs |
HRAs
|
|
---|---|---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
Yes |
— |
— |
My employer can contribute |
Yes |
Yes |
Yes |
I can contribute |
Yes |
Yes |
— |
My employer owns the account |
— |
Yes |
Yes |
I own the account |
Yes |
— |
— |
I can take it with me when I leave my employer |
Yes |
— |
— |
I earn interest or can invest my money |
Yes |
— |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
— |
Yes |
Yes |
(Health Savings Accounts) |
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
Yes |
My employer can contribute |
Yes |
I can contribute |
Yes |
My employer owns the account |
— |
I own the account |
Yes |
I can take it with me when I leave my employer |
Yes |
I earn interest or can invest my money |
Yes |
I need to submit documentation to PayFlex to verify my expenses are eligible |
— |
FSAs |
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
— |
My employer can contribute |
Yes |
I can contribute |
Yes |
My employer owns the account |
Yes |
I own the account |
— |
I can take it with me when I leave my employer |
— |
I earn interest or can invest my money |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
Yes |
HRAs
|
|
---|---|
I must be enrolled in a high-deductible health plan (HDHP) |
— |
My employer can contribute |
Yes |
I can contribute |
— |
My employer owns the account |
Yes |
I own the account |
— |
I can take it with me when I leave my employer |
— |
I earn interest or can invest my money |
— |
I need to submit documentation to PayFlex to verify my expenses are eligible |
Yes |