Remove Banking Remove Flexible Spending Account Remove Health Remove Health Savings Account
article thumbnail

FSA-HSA Contribution Limits for 2021

Stratus.HR

If you’re planning your tax-sheltered income for 2021, the IRS did not increase the $2,750 limit you can contribute to a health Flexible Spending Account (FSA). However, health savings account (HSA) participants will be able to contribute a little more in 2021. What is a Health Savings Account (HSA)?

article thumbnail

How do FSAs work? Understanding FSA programs

Higginbotham

Flexible Spending Accounts (FSAs) have emerged as one solution. FSA programs can be a good fit for many employee health benefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work? Flexible Spending Account vs. Health Savings Account.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Eenie meenie miney mo – Which account should I choose?

Benefit Resource Inc.

The specific account options you have will vary based on plans offered by your employer. Several of the most common accounts are listed here. A Medical Flexible Spending Account (Medical FSA) allows you to use tax-free money to pay for your family’s medical expenses. Health Savings Account.

article thumbnail

FSA-HSA Contribution Limits For 2022

Stratus.HR

If you’d like to tax-shelter a portion of your income for 2022, please see the increased contribution amounts below for both Flexible Spending Account (FSA) and Health Savings Account (HSA) participants. Remember, you must have a qualifying High Deductible Health Plan (HDHP) to be eligible for an HSA.