Health Accounts

There are different types of health accounts used to pay for medical expenses that may be offered with your plan options: Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs) and medical Flexible Spending Accounts (FSAs). There are also dependent care FSAs, which are used to pay for child or dependent care. 

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Health Reimbursement Account Information

If your plan includes a health reimbursement account (HRA), your employer puts money into the account to help you pay for eligible out-of-pocket medical expenses.

If there is money in the account, claims are paid directly from it. If all fund dollars are spent, insurance covers additional eligible services. You pay copayments and coinsurance amounts, if any.

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Health Savings Account Information

If your plan qualifies for a Health Savings Account (HSA), the account can help pay for current and future health care.

Your HSA can be used to pay for deductibles, copayments, coinsurance, and other qualified expenses. After you reach the out-of-pocket maximum, the plan pays 100% of covered expenses.

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Flexible Spending Account Information

A Flexible Savings Account (FSA) allows you to set aside pre-tax dollars to pay for eligible expenses. There are two types of FSAs: medical and dependent care.

You designate how much money you want withheld from your paycheck, and this amount goes into your FSA. With a medical FSA, once you get an eligible expense, you can request reimbursement at any time until all your FSA funds are spent. With a dependent care FSA, you can only request reimbursement if you currently have enough funds in the account.

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