Flexible spending accounts (FSAs) and health savings accounts (HSAs) are important tools for the more than 70 million people who currently use these accounts to pay for out-of-pocket healthcare expenses or save for healthcare needs in retirement, all while reducing taxable income.
But these accounts have seen significant changes in 2020, and employees will need help understanding what’s new and how it affects them. Here are five things employees should know about FSAs and HSAs during open enrollment this year.
