FSA/HSA Eligibility

MedUcare (Buy-Golden) proudly accepts FSA & HSA Payments for qualifying products!

Key takeaways about FSAs, HSAs and HRAs

• FSAs and HSAs both offer tax benefits and have annual contribution limits.
• You must have an HDHP to qualify for an HSA.
• Funds in an HSA roll over year to year. There is no “use it or lose it” rule.
• Many HSAs offer investment options.
• FSAs are "use it or lose it." That means you’ll lose any funds you don’t spend by the end of your plan year unless the plan has a grace period or carryover feature.
• You can use your FSA to cover eligible healthcare costs at the start of the year. The entire amount is available on day one.
• HSA holders cannot spend more than the funds deposited in their HSA. However, they can save receipts for qualified medical expenses and file for reimbursement after their balance has grown.
• You can't contribute to an HSA and a traditional FSA in the same year. However, HSA holders can also use an LPFSA for dental and vision expenses and a Dependent Care FSA for childcare costs.
• You can contribute funds to an HSA and FSA. Only your employer can contribute to your HRA.
• Anyone can contribute to your HSA: you, your employer, or another person.
• With HRAs, employers may limit which health expenses are eligible and the amount you can roll over yearly.

It's essential to do your research to determine which account is best for you and your family.