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A flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States.
Benefits of a Health Savings Account. Learn if setting up a Health Savings Account (HSA) is right for you. Get the facts on eligibility, tax breaks, and the qualified medical expenses you can pay for with a HSA. A health savings account (HSA) differs from a flexible spending account (FSA) in many ways. The big difference is that the money in a HSA is yours. You control how the money is spent and you keep any interest and investment earnings from the account. Unlike FSA contributions, you donât lose the money in your HSA at the end of the year.