| Consideration | HSA (Health Savings Account) | FSA (Flexible Spending Account) |
|---|---|---|
| Eligibility | Must enroll in a High Deductible Health Plan | Must be enrolled in a PPO Plan for Health Care FSA No plan requirements for Dependent Care FSA |
| Contribution Limit | $4,300 single or $8,550 family *amounts include an employer contribution | Medical FSA: $3,200 single or family Dependent Care FSA ("daycare"): $5,000 |
| Change Contributions | Start, stop, or change amount anytime throughout the year | Only during open enrollment or in the event of a life status change |
| Continuation and Growth | Unused balances roll over and can be invested. Your HSA goes with you if you leave the university. | Use it or lose it. Funds must be used by March 15 of 2025, unless separating from the university. If separating, must be used within 30 days of final employment date. |
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