Tax-Advantaged Accounts for Health Care Expenses : Side-by-Side Comparison

Author / Creator

Library of Congress. Congressional Research Service

Available as

Online

Summary

Provides background information on tax-advantaged accounts permitted under current law to help people pay for unreimbursed medical expenses, including flexible spending accounts (FSAs), health reim...

Provides background information on tax-advantaged accounts permitted under current law to help people pay for unreimbursed medical expenses, including flexible spending accounts (FSAs), health reimbursement accounts (HRAs), health savings accounts (HSAs), and Archer medical savings accounts (MSAs). Presents side-by-side comparisons of the principal features of FSAs, HRAs, HSAs, and MSAs, and reviews rules regarding eligibility, contributions, qualifying expenses, nonqualified withdrawals, and carryover of unused funds for the 2004 tax year.

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