Remove Banking Remove Flexible Spending Account Remove Out of Pocket Cost
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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. However, as these plans also have higher out-of-pocket costs, they may not be a good option for people with higher health care expenses.

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5 Common Myths About Health Savings Accounts (HSAs)

Flimp Communications

Naturally, employees may be under the impression that using an HSA to pay for health costs requires untangling similar red tape. The truth: HSAs are essentially financial accounts, and as such, they are as easy to use as a bank account. HSA accounts, on the other hand, belong to the employee, not the employer.