Since our founding in 2002, HealthEquity has remained laser-focused on a singular goal: Empower working Americans to gain more choice and control over their healthcare and financial future. By 2030, we plan to make Health Saving Accounts (HSAs) more common than 401(k)s.

Today 12 million+ members and 100,000+ organizations trust HealthEquity to help them connect health and wealth.

Learn more about how HealthEquity is a total solution for Employers, Benefit Advisors, Financial Advisors, and Health Plans.

Read on to find out about each HealthEquity account or jump to a section with these links:

  1. What is a Health Savings Account?

  2. What is a Flexible Spending Account?

  3. What is a Limited Purpose Flexible Spending Account?

  4. What is a Dependent Care Flexible Spending Account?

  5. What is a Health Reimbursement Arrangement?

  6. What are Commuter Benefits?

What is a Health Savings Account?

Health Savings Accounts (HSAs) are tax-advantaged member-owned accounts that let you save pre-tax* dollars for future qualified medical expenses. You can only contribute to an HSA if you’re enrolled in a qualified health plan. You can invest** in mutual funds tax-free—and funds never expire.

Already have an HSA? Start using it with confidence by checking out our Getting Started article.

Considering opening an HSA? Learn more about the benefits with our HSA Product Guide and helpful video.

*HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-deductible with very few exceptions. Please consult a tax advisor regarding your state’s specific rules.

**Investments are subject to risk, including the possible loss of the principal invested, and are not FDIC or NCUA insured, or guaranteed by HealthEquity, Inc. Investing through the HealthEquity investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement. Investing may not be suitable for everyone and before making any investments, you should carefully consider the investment objectives, risks, charges and expenses of any mutual fund before investing. A prospectus and, if available, a summary prospectus containing this and other important information can be obtained by visiting the fund sponsor’s website. Please read the prospectus carefully before investing.

It is the members’ responsibility to ensure eligibility requirements as well as if they are eligible for the expenses submitted.

HealthEquity does not provide legal, tax or financial advice. Always consult a professional when making life-changing decisions.

What is a Flexible Spending Account?

Flexible Spending Accounts (FSAs) are tax-advantaged accounts that let you use pre-tax dollars to pay for eligible medical expenses. FSAs help members realize significant savings on healthcare costs and allow access to the full contribution amount at the beginning of the plan year.

Already have an FSA? Start using it with confidence by checking out our Account Use article.

Considering opening an FSA? Learn more about the benefits with our FSA Product Guide and helpful video.

What is a Limited Purpose Flexible Spending Account?

Limited Purpose Flexible Spending Accounts (LPFSAs) are tax-advantaged accounts that let you use pre-tax dollars to pay for eligible dental and vision expenses. Members can save hundreds on products and services they use every day, while using an HSA to maximize long-term savings.

Already have an LPFSA? Start using it with confidence by checking out our Getting Started article.

Considering opening an FSA? Learn more about the benefits with our LPFSA Product Guide and helpful video.


What is a Dependent Care Flexible Spending Account?

Dependent Care Flexible Spending Accounts (DCFSAs) are tax-advantaged accounts that let you use pre-tax dollars to pay for eligible dependent care expenses while you work, look for work, or attend school. A qualifying ‘dependent’ may be a child under age 13, a disabled spouse, or an older parent in eldercare.

Already have a DCFSA? Start using it with confidence by checking out our Getting Started article.

Considering opening a DCFSA? Learn more about the benefits with our DCFSA Product Guide and helpful video.

What is a Health Reimbursement Arrangement?

Health Reimbursement Arrangements (HRAs) are employer-sponsored accounts that offer members free money to pay for eligible healthcare expenses. HRAs are owned and funded exclusively by your employer. HRAs require no payroll deductions and you don’t need to contribute any money. Your organization will fund the entire account. Plus, all reimbursements for eligible medical expenses are tax-free too.

Your organization sets your annual healthcare reimbursement limit and determines which expenses are eligible. Although it varies by plan design, common eligible expenses include deductibles, coinsurance, and copays. Carefully review your annual enrollment materials to find your specific plan details.

Already have an HRA? Start using it with confidence by checking out our Getting Started article.

Considering using your employer-sponsored HRA? Learn more about the benefits with our HRA Product Guide and helpful video.

What are Commuter benefits?

Commuter benefits let you use pre-tax dollars to pay for eligible transit and parking expenses. Eligibility requires a commuter benefits program offered through your employer.

You can activate commuter benefits any time. No need to wait for open enrollment. Pause, change, or update your benefits whenever you want.

Already have Commuter benefits? Start using it with confidence by checking out our Getting Started article.

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