health savings account vs flexible spending
A Flexible Spending Account (also known as a flexible spending arrangement) is a special account you put money into that you use to pay for certain out-of-pocket health care costs. You donât pay taxes on this money. This means youâll save an amount equal to the taxes you would have paid on the money you set aside.
Health savings account. This article is about medical savings accounts in the United States. For international uses, see medical savings account. A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.