Remove 2023 Remove Flexible Spending Remove Health Insurance Remove Out of Pocket Cost
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5 Things You Didn’t Know About Your FSA

CorpStrat

Healthcare costs have risen faster than inflation. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. For 2023, the FSA limit has increased to $3,050 for an individual and $5,000 for a family. – If you have any questions, feel free to reach out.

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The benefits of an HSA account

Higginbotham

Unlike Flexible Spending Accounts (FSAs), which are owned by employers, individuals own HSAs. To contribute to an HSA, you must enroll in a high-deductible health plan. The total annual out-of-pocket expenses (not including out-of-network costs) can’t be more than $7,050 for individual coverage and $14,100 for family coverage.