What Are FSA & HSA cards?
A FSA Debit Card is a type of debit card issued in the United States. It can access tax-favored spending accounts such as flexible spending accounts (FSA) and health reimbursement accounts (HRA), and sometimes health savings accounts (HSA) as well.
A health savings account (HSA) and a flexible spending account (or FSA, also called a flexible spending arrangement by the IRS) are both tax-advantaged accounts that allow you to save specifically for medical costs.
What is the difference between an FSA and HSA account?
The most significant difference between flexible spending accounts (FSA) and health savings accounts (HSA) is that an individual controls an HSA and allows contributions to roll over, while FSAs are less flexible and are owned by an employer.
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HSA vs. FSA: Differences and How to Choose
Both HSAs and FSAs provide tax savings on health costs, but you’ll have to buy a medical plan that pays few costs upfront to qualify for an HSA, and not everybody should.