Medical Insurance Enrollment questions

[ChiefBlueCFC]

I had an FSA a few years ago and switched it to a HSA last year. Big difference between them (at least with our plan) is that FSA funds are all available immediately, but you have to use it or you lose it. With the HSA, funds were available as they were deposited into the account. The nice thing is that funds carry over from the previous year.

i'm sure that this has been brought up in the thread or you are aware of this but just thought I'd share my experience.

Good luck!

[mlyonsd]

Originally Posted by ChiefBlueCFC

I had an FSA a few years ago and switched it to a HSA last year. Big difference between them (at least with our plan) is that FSA funds are all available immediately, but you have to use it or you lose it. With the HSA, funds were available as they were deposited into the account. The nice thing is that funds carry over from the previous year.

i'm sure that this has been brought up in the thread or you are aware of this but just thought I'd share my experience.

Good luck!

FWIW an HSA is a great way to put money away that you can use later to help pay for insurance between the time you retire and are eligible for Medicare.

[Chief Roundup]

Originally Posted by ChiefBlueCFC

I had an FSA a few years ago and switched it to a HSA last year. Big difference between them (at least with our plan) is that FSA funds are all available immediately, but you have to use it or you lose it. With the HSA, funds were available as they were deposited into the account. The nice thing is that funds carry over from the previous year.

i'm sure that this has been brought up in the thread or you are aware of this but just thought I'd share my experience.

Good luck!

The college is going to "front" the money into the HSA for every employee that decides to go that way. They are not matching or putting anything into that plan though.