Friday, February 16, 2007

Health Savings Accounts: Health Savings VS Flexible Spending


When comparing Flexible Spending Accounts and Health Savings Accounts you will find that Health Savings Accounts, first and foremost, allow the policy
holder to participate in a greater number of qualified medical expenditures. Flexible Spending Accounts are limited in the type of services one can receive. Unlike Flexible Spending Accounts, Health Savings Accounts will cover the following:
• Travel expenses, meals and lodging while away from home for medical treatment.
• Over the counter medications including vitamins and cold medicine
• Preventive health measures such as smoking cessation classes and diabetic teaching.
• Therapies such as holistic and alternative therapies.