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HSA vs Health Care Reimbursement Account

Wondering how an HSA is different from a Health Care Reimbursement Account? Here’s how:

Health Savings Account HEALTH CARE REIMBURSEMENT ACCOUNT
When to Use You can use the HSA to pay for eligible medical, dental, and vision expenses under the Bronze, Bronze Plus, or Silver coverage levels. You can use the Health Care Reimbursement Account to pay for eligible medical, dental, and vision expenses under any coverage level.
Contributions You can contribute to your account before taxes. For 2022, the annual limits set by the IRS are $3,650 for individual coverage, and $7,300 for family coverage. If you’re age 55 or older (or will turn age 55 during the plan year), you can also contribute an additional $1,000 catch-up contribution. You can contribute to your account before taxes, up to the $2,750 annual limit.
Fund Availability You can use up to the total amount you have contributed to your HSA. The total amount of your annual election is available at the beginning of the plan year.
Rollovers Unused dollars roll over from year to year. The funds are always yours to keep, even if you leave the company or retire. You can only roll over up to $550 from year to year.
Earning Interest The money in your HSA earns interest. The money in your Health Care Reimbursement Account does not earn interest.
Debit Cards Yes, a debit card is available. Yes, a debit card is available.
Investment Option You can open an investment account when your balance reaches $1,000. You cannot invest your Health Care Reimbursement Account balance.

Which Account Should I Use

If you enroll in the Bronze, Bronze Plus, or Silver coverage level, you can use an HSA, a Health Care Reimbursement Account, or both an HSA and Health Care Reimbursement Account. If you contribute to an:

  • HSA or Health Care Reimbursement Account, you can use your account to pay for qualified medical, dental, and vision expenses.
  • HSA and Health Care Reimbursement Account, your Health Care Reimbursement Account will be “limited use” and can only be used to pay for qualified dental and vision expenses. However, once you meet the medical plan deductible, then it can be used toward qualified medical expenses as well. Your HSA can be used for qualified medical, dental, and vision expenses.

If you enroll in the Gold or Platinum coverage level, you can use the Health Care Reimbursement Account to pay for qualified medical, dental, and vision expenses.


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