Compare the HSA and the FSA 

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

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

 

Can be used with an HSA