Health Savings Accounts (HSA) |
Health Reimbursement Arrangements (HRA) |
Individually owned |
Employer owned |
Portable |
Specific to employer |
Funded before use |
Funded as needed |
Contributions made by employee, employer, or others on owner's behalf |
Funded by employer only |
Balance rolls over at year end |
Rollover optional |
Must be used with qualified HDHP |
Can be used with any health plan |
Can be used as a savings/investment vehicle for future medical expenses |
Remains employer asset |