An HSA (Health Savings Account) and an FSA (Flexible Spending Account) are like special piggy banks that you can use to save money for health-related things, like going to the doctor or buying medicine. HSA (Health Savings Account):

Imagine you have a piggy bank that you can put money into, and that money stays there, even if you don’t spend it right away. You can use this money anytime for health stuff.

The best part is that the money in this piggy bank doesn’t disappear at the end of the year. It keeps growing, and you can use it even when you’re older.

But to use an HSA, you need a special kind of health insurance called a high-deductible health plan.

FSA (Flexible Spending Account): This is another piggy bank for health stuff, but there’s a catch: the money might disappear at the end of the year if you don’t use it. So, you need to spend it before the year is over.

You don’t need special insurance to have an FSA, and you can use the money for things like going to the doctor or buying glasses.

So, both HSA and FSA help you save money for health costs, but the HSA lets you save the money longer, while the FSA makes you use it sooner. You can ask for receipts for your membership and appointments to submit for HSA/FSA reimbursement.