HSA vs FSA For Beginners | How Much Money Should You Contribute To An HSA or FSA Savings Plan?

THIS video will teach you how to determine how much money you should be contributing to your employer-funded HSA or FSA medical savings account. We will also talk about what each of these plans are & why you should consider having one!
In this video, we will do a basic overview of the similarities & differences between an HSA and an FSA. We'll talk about eligibility requirements, the advantages of enrolling in an HSA vs FSA, and contributions. At [15:28] we will talk about how you can figure out how much you should contribute to an employer-funded HSA or FSA medical savings account.
✨ Timestamps ✨
00:00 - Intro
00:28 - Similarities
02:05 - What makes an HSA unique?
07:32 - The biggest advantage of an HSA
09:28 - What makes an FSA unique?
15:28 - How to determine how much you should contribute to an employer-funded HSA or FSA?
21:58 - Outro
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Education, not financial advice!
#healthsavingsaccount #flexiblespendingaccount #benefits

[@chewdrag]

What happens when you have a health plan that qualifies for FSA and your spouse has a health plan that qualifies for HSA?

[@caingaru]

A household can only have one of the tax sheltered accounts.

[@myothercarisadelorean8957]

Janell, wow! I think I'm falling in love.

[@Danielm316]

How does this benefits for tax purposes

[@caingaru]

Reduces your taxable income