Remove Banking Remove Flexible Spending Account Remove Health Insurance Remove Out of Pocket Cost
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Should I Enroll in a High Deductible Health Plan with an HSA?

Stratus.HR

Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love? Well, there’s a flipside of HDHPs and HSAs that includes a higher deductible and added out-of-pocket costs. HSA Bank Fees. HSA-Eligible Expenses.

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The benefits of an HSA account

Higginbotham

The owner of the account can use it to pay for qualified medical expenses. 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 tax advantages can make health care more affordable.

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CARES Act - Impact on HSAs, HCFSAs, and HRAs

AssuredPartners

Consumers may also receive reimbursement for OTC purchases through those accounts. All other plans (fully insured or self-funded) need to comply. In addition, menstrual products are now considered a qualified medical expense, meaning consumers can pay for or be reimbursed for these products through an HSA, HCFSA or HRA.