You can read more below.
They are two different saving accounts (usually offered by your employer) which allow you to set money aside, in order to cover eligible health expenses. HSA is more flexible in terms of paying fewer taxes, as well as providing you with additional money for your HSA, which you can then save in the coming years. However, you need a high Deductible Health Plan (HDHP) to be qualified for HSA. FSA which provides high tax savings. This means that anything left on the account will not roll over into the next year., so remember to use it.
Both Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) give tax benefits for medical expenses. Fortunately, this means that you can now use your savings on prescription glasses, prescription sunglasses and contact lenses at SmartBuyGlasses! In some cases, this also applies to regular (non-prescription) sunglasses, depending on your eligibility and benefits. Both HSA and FSA can be used - whether you have a vision insurance plan or not.
Don't know if you have FSA? Check with HR at your workplace to start saving on your prescription eyewear!
FSA funds expire March 15 of the following year. Any questions specific to your personl FSA plan and expiration date should be directed at your provider.
Please note, once your coverage period is over, any dollars placed in your FSA account will be lost.
For HSA, any unusued funds at the end of the plan year are yours to keep, and stay in your account until your spend them.