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FSA, HSA, HRA, and MSA: Understanding Medical Expense Accounts

Medical expense accounts offer a tax-advantaged means to save and pay for medical expenses not commonly covered by health insurance.

The four types of accounts are:

Flexible Spending Arrangements (FSAs)

Health Savings Accounts (HSAs)

Health Reimbursement Arrangements (HRAs)

Medical Savings Accounts (MSAs)

These four accounts have different eligibility requirements and contribution rules. The benefits they give to the account holder also differ.

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