Stephanie is a Freelance Content Specialist who specializes in personal finance. Stephanie's work can be seen in publications such as Investopedia, The balance, Credit Karma, and Forbes. When she's not writing, she's studying to become a CFP, practicing yoga, or going on hikes with her family.
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Wondering, "What is a Healthcare FSA?" A Healthcare Flexible Spending Account (HCFSA) is a spending account for eligible healthcare expenses. But not everyone has access to one. So, who is qualified, and how does a Healthcare FSA work? What are the rules, and what can you buy with an HCFSA? Let's jump into HCFSA 101 to discover how you can save thousands a year with a Healthcare FSA.
On May 10, 2021, the Internal Revenue Service announced the 2022 HSA contribution limits. For 2022, HSA-eligible account holders are allowed to contribute $3,650 for individual coverage and $7,300 for family coverage. Both coverage levels are a $50 increase for individuals and $100 for families from 2021 HSA contribution limits. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.
We are excited to share with you, that Lively is now the #1 rated HSA Provider on HSASearch.com (A Devenir company). We want to thank the many customers who took the time to review our HSA offering and give us such a high rating.
Want to use pre-tax dollars for healthcare expenses? If you don’t have a high deductible health insurance plan and want to set aside pre-tax dollars for healthcare expenses, a Flexible Spending Account (FSA) may be just what you’re looking for.