HSA vs. FSA: The Ultimate Guide for Federal Employees

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[@baypos]

Nine years ago I started working for Fed gov, during orientation, HR asked what health coverage, I told them HSA, they thought I was asking for a flex account, they hadn't heard of a HSA. I'm single and my HSA is great for me with no health problems. I can trade stocks in my HSA, have the LEX for dental and vision claims. Tax season 2022 started payroll HSA deductios and saving on payroll tax. HSA is one of the best benefits I have.

[@stanleyjames5662]

Agree. I just started using one and most of my coworkers hadn’t heard of it either. Hopefully it’ll gain popularity as more people learn about it. Especially younger employees.

[@cynnabnz]

My first year trying the HSA w/a limited FSA. Decided to get an additional HSA account outside the Agency to stash my extra contributions.

[@MultiBlueOval]

I'm also a Fed with the DOI. Does the government contribute to the account like the match with TSP?

[@Kep19901]

Hey haws, you said you can invest the $, what kind of return are we looking at? It's not like I can drop it into my tsp/c fund, correct? Or is the return % just better than a regular bank's interest?

[@Determination212]

When you and the federal employer are saving on FICA taxes because you have an FSA plan, would this negatively impact social security or medicare benefits when one retires? This could result in a lower social security monthly payment? I am assuming the savings of an FSA outweigh even if I'm in the lower federal tax bracket of 12 percent?

[@yookyum]

Where do you find HSA program? It is not on benefeds or fsafeds website

[@salsaverde3521]

Who says , what is plan is a ( qualified) high deductible to make a hsh work ? Thank you you're awesome by the way

[@PlanYourFederalBenefits]

My pleasure, Have a great day!

[@juliekelly676]

Is BlueCrossBlueSheild Basic considered a high deductible plan?

[@JavierRamirez-eq5tf]

No it is not a high deductible plan

[@taurinenrgy]

What is the point of adding on the LEXFSA if I’m already getting the triple tax be if it from the HSA?

[@charlesc4047]

Less income tax I believe

[@mlkrinsky]

Thinking of contibuting to FSA next year, since forgot to this year. If i retire after 4 months, can i use the funds i contributed already prior to retirement?

[@PlanYourFederalBenefits]

You can use the funds up until retirement

[@celinaceballo9502]

If you change plans after years of having an HSA do you lose that money?

[@PlanYourFederalBenefits]

No, An HSA is portable.

[@robertlee4767]

Hi, can you explain survivor benefits for none specifically for none spouses I'm single USPS worker with 38 years in I'm going to retire in 2025, when I reach age 62. Can I use my daughter as a survivor so she can get my benefits once I pass away??? Thank you

[@PlanYourFederalBenefits]

here is some info about this: www.opm.gov/support/retirement/faq/survivor-benefits/

[@salsaverde3521]

Why wait to retire ? you do you , but many people can retire at 58 ish with a immediate pension

[@cw5001]

The sad part, retirees can't have HSA or FSA accounts.😒

[@jerryrn5571]

Do you mean you can’t put more money into an HSA after you retire or you can’t keep an HSA after you retire?

[@cw5001]

@@jerryrn5571 You can't keep your HSA or FSA. My friend who recently retired, was told she wasn't allowed to keep it.

[@severedties8743]

@@cw5001 This is wrong. Only FSA will expire. HSA does not expire and at age 65 you can withdraw the money like a 401k. It is taxable income at that point for whatever you withdraw if not being used for medical expenses.