FSA/HRA/QSEHRA/ICHRA/EBHRA/HSA — Oh My!

When it seems like every letter of the alphabet has been thrown at you, we want to help you understand the similarities and differences between all of these different types of health care accounts available to employers to offer to their employees.

To do this, we’ve prepared a handy chart (updated for this year) so you can see how each of these account types varies around eligible employers; eligible employees; the need for a plan document; who can make contributions to the account; this year’s contribution limits (if any); the tax benefits to the employee and to the employer; and if investment earnings (if any) are taxed. In addition, we also cover funds availability to participants; any carryover provisions; portability of the account; eligible expenses to be reimbursed; substantiation requirements; and whether debit cards are available.

So hopefully, you’ll be able to traverse the yellow-brick road of health care accounts safely from now on—with brains, heart, and courage.