What are the eligibility requirements for FSA and HSA?
An example of an AI chatbot conversation about FSA and HSA eligibility requirements.
What are the eligibility requirements for FSA and HSA?
To be eligible for a Flexible Spending Account (FSA), you must be employed by a company that offers it. For a Health Savings Account (HSA), you need to be enrolled in a high-deductible health plan (HDHP).
Can I have both an FSA and an HSA?
Yes, you can have both an FSA and an HSA, but there are specific rules regarding contributions and eligible expenses.
What expenses can I use my FSA and HSA for?
Both accounts can be used for qualified medical expenses, but HSAs can also be used for certain expenses in retirement.
Are there contribution limits for FSA and HSA?
Yes, there are annual contribution limits. For 2023, the limit for an FSA is $3,050, while for an HSA, it's $3,850 for individuals and $7,750 for families.
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