Compare the HSA and the FSA
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Features
|
Health Care FSA
|
HSA
|
Limited Purpose FSA
|
---|---|---|---|
Medical Plan Compatibility
|
1,000 deductible or an eligible, non-Equifax medical plan
|
2,000 deductible 3,000 deductible 4,000 deductible |
2,000 deductible 3,000 deductible 4,000 deductible |
2020 Contribution Limit
|
$2,750
|
$3,550 for individuals, $7,100 for families
|
$2,750
|
2021 Contribution Limit
|
$2,750
|
$3600 for individual coverage; or $7200 for families.
|
$2,750
|
Catch-up Contributions
|
No
|
If you are age 55 or older, you may contribute an additional $1,000
|
No
|
Deadline to Request Reimbursement of Funds
|
March 31 of the following year
|
None; funds are yours forever, even if you leave Equifax
|
March 31 of the following year
|
Tax Advantages
|
Contributions reduce your tax liability, stretching your healthcare dollars
|
Contributions reduce your tax liability, stretching your healthcare dollars
|
Contributions reduce your tax liability, stretching your healthcare dollars
|
Investment Options
|
None
|
Once your account balance reaches $1,000 you may move any balance above that amount into mutual funds and direct your investment strategy
|
None
|
Spending Account Compatibility
|
Cannot be used with an HSA
|
Can be used with a Limited Purpose FSA
|
Cannot be used with an HSA
|