What healthcare savings account type does only the employer contribute money into?

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Multiple Choice

What healthcare savings account type does only the employer contribute money into?

Health Reimbursement Arrangements are funded solely by the employer; employees do not contribute to them. The employer allocates funds to reimburse qualified medical expenses, and the plan sponsor controls the balance and how it’s used. In contrast, health savings accounts belong to the individual and can be funded by both employee and employer, with funds that carry over and are portable. Flexible spending accounts are typically funded by employee pre-tax contributions (though employers may contribute some), and funds often must be spent within the plan year. An HMO is a type of managed care plan, not a savings account.

Health Reimbursement Arrangements are funded solely by the employer; employees do not contribute to them. The employer allocates funds to reimburse qualified medical expenses, and the plan sponsor controls the balance and how it’s used. In contrast, health savings accounts belong to the individual and can be funded by both employee and employer, with funds that carry over and are portable. Flexible spending accounts are typically funded by employee pre-tax contributions (though employers may contribute some), and funds often must be spent within the plan year. An HMO is a type of managed care plan, not a savings account.

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