A health savings account (HSA) differs from a flexible spending account (FSA) in many ways. The big difference is that the money in an 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 don’t lose the money in your HSA at the end of the year. You can keep saving your money in the HSA year after year even into retirement.
U. Horace Cartwright takes you through the acronym obstacle course to explain the changes that affect your health spending accounts.