What healthcare savings account type stays in your account until you use it?

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Multiple Choice

What healthcare savings account type stays in your account until you use it?

Rollover and ownership of funds for medical expenses are the key ideas. The health savings account is owned by you, funded with pre-tax contributions, and the balance carries over year to year without a use-it-or-lose-it rule. You can keep the money even if you change jobs or plans, and you can invest it for growth, as long as you’re enrolled in a high-deductible health plan. Flexible spending accounts often require spending the money within the plan year (with limited rollovers), health reimbursement arrangements are typically employer-funded and not portable, and a health maintenance organization is a type of insurance plan, not an account. Therefore, the account that stays in your account until you use it is the health savings account.

Rollover and ownership of funds for medical expenses are the key ideas. The health savings account is owned by you, funded with pre-tax contributions, and the balance carries over year to year without a use-it-or-lose-it rule. You can keep the money even if you change jobs or plans, and you can invest it for growth, as long as you’re enrolled in a high-deductible health plan. Flexible spending accounts often require spending the money within the plan year (with limited rollovers), health reimbursement arrangements are typically employer-funded and not portable, and a health maintenance organization is a type of insurance plan, not an account. Therefore, the account that stays in your account until you use it is the health savings account.

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