Compare Spending Accounts

Healthcare spending accounts are all designed to pay for healthcare costs your plan doesn't cover. Each one each works in a different way. Here's a quick comparison of the key features of three popular healthcare spending account types.

The Basics

	Flexible Spending Account (FSA)	Health Savings Account (HSA)	Personal Care Account (PCA)
What is it?	An account that allows you to set aside pre-tax dollars for qualified healthcare expenses	A tax-free, interest-bearing account for qualified healthcare expenses now and in future years*	An employer-funded account to help you pay for healthcare expenses
Who can have it?	Employees whose employer offers an FSA	Employees whose employer offers an HSA Self-employed Retirees not yet enrolled in Medicare who have a qualified High Deductible Health Plan	Employees whose employer offers a PCA
Do I have to get a certain kind of health plan?	You can have any type of health plan, but Humana's FSA is available only with certain plans	To contribute, you need to have a qualified High Deductible Health Plan and meet other eligibility rules	Your employer decides – usually a PPO plan with a high deductible

*All mention of taxes is made in reference to federal tax law. Review your state's tax laws to determine the treatment of HSA contributions and earnings.

The Details

	Flexible Spending Account (FSA)	Health Savings Account (HSA)	Personal Care Account (PCA)
Who can put money in it?	You or your employer	You, your employer, and anyone else	Employer only
Is there a limit on how much I can put in the account?	Your employer sets a minimum and maximum annual contribution	The maximum HSA contribution is based on IRS regulations	You can't put money into the account
When can I use the money?	Entire amount available at the beginning of the plan year. Healthcare FSA funds available only for services incurred during current plan year.	You can spend money contributed to-date	Entire amount is typically available at the start of the plan year
What's an eligible expense?	Items on employer's list of approved expenses – usually medical, dental, pharmacy, and vision expenses Download and Print Sample - FSA Qualified Expenses (103 KB) Download PDF English	IRS-approved expenses – medical, dental, pharmacy, and vision expenses Download and Print Sample - HSA Qualified Expenses (99 KB) Download PDF English	Items on employer's list of approved expenses – usually medical and pharmacy expenses Download and Print Sample - PCA Qualified Expenses (103 KB) Download PDF English
What if I don't spend all my funds during the plan year?	After the claims filing deadline, you lose unspent funds	Unspent funds stay in your account and roll over from year to year	It's your employer's call, but the funds can stay in your account for the following year
Can employees take funds with them if they leave their current employer?	No	Yes, including any money your employer put in your account	No

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