Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
Health Savings Accounts
- What Are Health Savings Accounts?
- Who Can Establish an HSA?
- How Much Can Be Contributed to an HSA?
- How Do You Establish an HSA?
- Who Can Make Contributions to an HSA?
- How Are Contributions Made to an HSA?
- Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
- Can Your Contributions Earn Interest?
- How Are Contributions Taxed?
- How Are Distributions Taxed?
- What Are Qualified Medical Expenses?
- Are Rollovers Permitted?
- What Happens to Funds Remaining in Your HSA?
Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
You may not be eligible to make contributions to an HSA if you are currently covered under a Flexible Spending Account (FSA) or a Health Reimbursement Arrangement (HRA) that provides duplicate coverage of the HSA. However, if you have an FSA or an HRA, you will be eligible to participate in an HSA if:
- Your FSA or HRA repays or reimburses only vision, dental, or preventive care expenses.
- Your FSA or HRA is a high-deductible arrangement that pays or reimburses health-care expenses only after the minimum annual HDHP deductible has been satisfied.
- You suspend your HRA for a period of time by electing to forgo reimbursement of HRA benefits that you incur during the suspension period (your employer can continue to make contributions during the suspension period).
- Your HRA is a retirement HRA that reimburses medical expenses you incur once you retire (although contributions can be made before you retire).
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