Health Savings Accounts
Can I still participate in my employer's Health Care Flexible Spending Account (HCFSA) Plan if I am contributing to an HSA?
Your employer will need to amend their HCFSA plan to allow for a limited benefit HCFSA. A limited benefit HCFSA limits reimbursement to dental, vision and preventive care. Once you have satisfied your HDHP deductible, you can be reimbursed from your limited HCFSA for all allowable expenses; however, once your HDHP deductible starts over, you may only be reimbursed for dental, vision and preventive care.
If your employer has a grace period in place for your HCFSA plan, you will be eligible to participate in an HSA during the grace period, as long as your HCFSA balance is zero as of the beginning of the grace period, or your HCFSA balance has been rolled into an HSA as of the beginning of the grace period.
View additional questions:
- What is a Health Savings Account?
- How do I qualify to open an HSA?
- When can I contribute to an HSA?
- Can I still participate in my employer's Health Care Flexible Spending Account (HCFSA) Plan if I am contributing to an HSA?
- How much can I contribute to my HSA?
- Can money be rolled over from My Health Flexible Spending Account or Healthcare Reimbursement Account into My HSA?
- Can I transfer money from my Individual Retirement Account (IRA) into my HSA?
- Who can contribute to my HSA?
- What is the tax treatment of an HSA contribution?
- What can I use my HSA money for?
- What if I withdraw money from my HSA and don't use it for qualified medical expenses?
- Are contributions and distributions on my HSA reported to the IRS?