HSA, HRA, & FSA
Health Care Flexible Spending Account (FSA)
Health Reimbursement Arrangement (HRA)
Health Savings Account (HSA)
Retiree Reimbursement Account (RRA)
Explanation
Fund products, such as Health Care FSA, HRA, HSA and RRA products, are impacted by provisions of the health care reform law. Fund products are often coupled with a consumer-directed health plan, which gives plan members more control over their health care spending. Health care reform primarily impacts fund products in four areas: over-the-counter (OTC) medications, expenses that can be paid using a FSA, dependent age definition, and HSA withdrawal penalties for unqualified expenses.
Questions and answers
- When do the restrictions on the purchase of OTC medicines take effect?
- How are the FSA contribution rules impacted?
- How has health care reform changed the rules for withdrawing money from an HSA for unqualified expenses?
- Does the increased tax on non-qualified withdrawals from HSAs also affect plan sponsors and members with non-calendar year plans?
Related Resources
