Saving for Healthcare

Tax-advantaged accounts that allow you to save specifically for medical costs


Which account is right for you?

Health Savings Account
Flexible Spending Account


Owned by the employee

Owned by the employer

Health Reimbursement Account

Owned by the employer

Employer & employee funded


Employer & employee funded

100% employer funded

Contribution Limits

$3,550 single, $7,100 family

Medical FSAs: $2,750

Dependent Care FSAs: $5,000

Determined by the employer

Must be enrolled in a High-Deductible Health Plan

Health Plan Eligibility

Must be offered a group health plan by employer

Can be built to work with any health plan

Fund Availability

As they're contributed

Medical FSAs: On first day of plan year

Dependent Care FSAs: As they're contributed


Contributions are tax-deductible, but can also be taken out of your pay pretax. Growth & distributions are tax-free.

Tax Savings

Contributions are pre-tax & distributions are untaxed



Unused balances rollover into the next year

You forfeit any unused balance unless your employer allows a rollover ($500 cap)

Yes, if allowed by employer plan


Investment Capability




Yes, HSA stays with the account holder



IRS-approved medical/dental/vision expenses for participant and qualified dependents

Covered Expenses

IRS-approved medical/dental/vision expenses for participant and qualified dependents

Employer-approved expenses for employee and qualified dependents

Health Savings Account (HSA)

A Health Savings Account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses.

  • Triple Tax Benefits 

    1. Contribute pre-tax money​

    2. Enjoy tax-free growth

    3. Withdrawals for qualified uses are tax-free

  • The "Health IRA"

    • It can be used to help boost retirement savings

    • Contributions can often be invested into funds

    • No Required Minimum Distributions (RMDs)

  • 2020 Contribution Limits

    • Individual: $3,500

    • Families: $7,100

  • Flexible

    • Uses include: co-pays, deductibles, etc.​

    • Unused funds rollover to the next year

    • You own it so it's portable


Flexible Spending Account (FSA)

Flexible spending accounts come only as part of a benefits package from an employer — you can’t get one on your own — but the medical expenses you can use them for are the same as HSAs. 


It is an arrangement through your employer that lets you pay for many out-of-pocket medical expenses with tax-free dollars.

What's the advantage to the employee?

  • Contributions are pre-tax

  • Can make incremental contributions, but can still use the full annual amount right away


What's the advantage for employers?

  • Can choose to contribute or not

  • Can choose to allow some unused money to rollover


Health Reimbursement Account (HRA)

Health Reimbursement Accounts (HRAs) are employer-funded group health plans from which employees are reimbursed tax-free for qualified medical expenses up to a fixed dollar amount per year.


The employer funds and owns the arrangement.


What's the advantage to the employee?

  • Employer contributions are not part of wages, so they are tax-free

  • Unused money may rollover, employer decides how much

What's the advantage for employers?

  • Contributions are tax deductible

  • Can choose which qualified medical expenses money can be used for

  • Can choose if money rolls over at the  end of the year





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Investment advice is offered through Belpointe Asset Management, LLC. Insurance and annuity products may be offered through D.H. Hill Securities, LLLP. Securities are offered through D.H. Hill Securities, LLLP, Member FINRA/SIPC. D.H. Hill Securities, LLLP, Todd Mann Financial Services Inc., and Belpointe Asset Management, LLC are not affiliated entities. Todd Mann Financial Services Inc. is currently insurance licensed in the states of Oregon, New Jersey, and Wisconsin.

Insurance and annuity products may be offered through D.H. Hill Securities, LLLP. 


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