You can have both types of accounts, but only under certain circumstances. General Health Reimbursement Arrangements (HRAs) will probably make you ineligible for an HSA. If your employer offers a “limited purpose” (limited to dental, vision or preventive care) or “post-deductible” (pay for medical expenses after the plan deductible is met) HRA, then you can still be eligible for an HSA.

Typically an HSA only allows a Federal deduction, however in some states you can deduct the state tax. The HRA is a business expense which allows for a deduction from Federal, State, and FiCA taxes. See similar questions...

You cannot have an HSA if your spouse’s FSA or HRA can pay for any of your medical expenses before your HDHP deductible is met. See similar questions...

According to IRS Rev Ruling 2004-45 an HSA can only be used with a Limited Purpose HRA, which reimburses for permitted insurance, vision, dental, and preventive care. See similar questions...

A Health Savings Account (HSA) is an investment account from which you can draw money tax-free for medical care. HSAs are owned by the individual and grow through investments, similar to an IRA. HSAs have favorable tax treatment for contributions, distributions and earnings. They are available to individuals covered by a high deductible health plan (HDHP) and can be established to pay for family medical expenses. See similar questions...

An HRA (Health Reimbursement Arrangement) is used by employees to pay for eligible health care expenses. It is offered in conjunction with a high-deductible health insurance plan. An HRA is owned and funded by the employer. At the end of the year, unused funds may be carried over to the next year at the employer's discretion. If an employee leaves the company, the HRA stays with the employer. See similar questions...

You must wait 90 days before retaking the HRA. Meanwhile, you can review your feedback from your last Quality Health Survey by clicking on Feedback Report from the HRA homepage (accessed through Self Service). Please note that one can only earn the monetary incentive one time per calendar year. ^ TOP See similar questions...

The differences between a “custodian” and a “trustee” are minor. A trust is a legal entity under which assets are actually owned and held on behalf of a beneficiary. The trustee has some level of discretionary fiduciary authority over the assets of the fund. The trustee must exercise that authority in the best interests of the beneficiary. See similar questions...

The differences between a “custodian” and a “trustee” are minor. A trust is a legal entity under which assets are actually owned and held on behalf of a beneficiary. The trustee has some level of discretionary fiduciary authority over the assets of the fund. The trustee must exercise that authority in the best interests of the beneficiary. See similar questions...

H.S.A. is a Health Savings Account. It is a tax-advantaged personal savings account used in conjunction with a high deductible health policy. Individuals can contribute money to this account on a pre-tax basis to set aside money for qualified medical care and expenses. H.S.A. accounts typically are High Deductible Plans. See similar questions...