HSA and FSA are two different things. Your $520 FSA is already deducted from your W-2. If you look at your paystub each week, you should see that $10 a week is coming off of your gross pay. That deduction is already factored into your W-2.
An HSA is like a 401k for health care costs. It works only if you have a high deductible health plan. Not all companies offer them. It is extra money set aside to pay costs not covered by your insurance, and it can be carried over from year to year.
November 6th, 2007 at 9:21 pm
No.
You already received the tax benefit when it came out of your paycheck “pre-tax”.
November 7th, 2007 at 10:05 pm
HSA and FSA are two different things. Your $520 FSA is already deducted from your W-2. If you look at your paystub each week, you should see that $10 a week is coming off of your gross pay. That deduction is already factored into your W-2.
An HSA is like a 401k for health care costs. It works only if you have a high deductible health plan. Not all companies offer them. It is extra money set aside to pay costs not covered by your insurance, and it can be carried over from year to year.