The Flexible Spending Account (FSA) is designed to be paired with a low deductible plan. There are no employer contributions made to this account. Your FSA contributions are tax-free deductions that can use for medical equipment, co-pays, prescriptions, dental care, vision care and more. You will have access to the full amount of your annual election immediately, regardless of how much you’ve actually contributed to your account. FSAs are use it or lose it, so if you haven’t spent your full balance by March 15, 2021 then you will forfeit any remaining balance. The Healthcare Savings Account (HSA) can only be paired with a high deductible plan. Not only will you receive an employer contribution from Indeed, but you can also elect to contribute your own pre-tax dollars to the account. You can use the funds in your account for doctor’s visits, prescriptions and any other qualified medical expenses related to your annual deductible. Unlike the FSA, your unused HSA funds stay with you year over year even if you leave the company. In addition, you can only spend funds that have already been contributed into your HSA (no borrowing or “overdraft” protection. HSA funds can also be used towards vision and dental expenses – just keep in mind that these expenses are NOT applied to your medical deductible. For this reason, we also the option to enroll in a limited purpose FSA that allows you to open a FSA account for dental and vision expenses ONLY in addition to an HSA.