12/19/2023 0 Comments Fsa flexible expenses more than amount![]() ![]() "You will have to submit receipts to your FSA custodian in order for them to reimburse you." "Your HSA custodian doesn't micromanage your HSA expenses like they will your FSA," Rhinehart says. You can use the funds to cover co-pays for doctor's visits, over-the-counter and prescription medications, glasses, dental care and more. The qualified medical expenses you can use your HSA or FSA funds are mostly the same. ![]() If you invest your HSA funds, the earnings are also tax-free, giving HSAs a triple tax advantage. If your spouse is able to open their own FSA, they can contribute up to $3,200 to their account, according to .īoth FSA and HSA contributions use pre-tax dollars, and when you spend the funds on qualified medical expenses, those are also tax-free. If you're married or have dependents, you can use funds to pay for their health-care costs as well, but the contribution limit remains the same. There are FSA contribution limits as well - $3,200 for individuals in 2024, according to the Internal Revenue Service.
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