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FSA eligible if old HSA?

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  • FSA eligible if old HSA?

    My new employer only offers an FSA, no HSA, but I still have money in my old HSA account (I'm using it as an E-fund). I know you can not contribute to a FSA and HSA in the same year, but are people eligible for FSAs in years they do not contribute to an HSA even if there is still money growing in the HSA? I assume for tax purposes I wouldnt be able to deduct any of my 2020 medical receipts from my HSA account if I am in fact eligible for an FSA.

    thanks

  • #2
    Yes, having HSA money won't affect the FSA participation.

    As far as how you account for 2020 medical expenses, you could either submit a reimbursement request to your FSA or from your HSA but not both for the same expense.  I would use your FSA funds for current year medical expenses first because it's a use it or lose it.

    Then just keep letting your HSA money grow.

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    • #3
      Thanks! I anticipate medical expenses over the FSA limit for 2020, so its helpful to know I can save some of the unreimbursed receipts for future HSA reimbursements too.

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