Project Description

There are four types of tax-advantaged accounts that can be used to pay for unreimbursed medical expenses: (1) Health Care Flexible Spending Accounts (FSAs), (2) Health Reimbursement Accounts (HRAs), (3) Health Savings Accounts (HSAs), and (4) Archer Medical Savings Accounts (MSAs). A newly updated Congressional Research Service (CRS) Report compares their respective eligibility rules, contribution limits, use of funds, and other key characteristics for tax year 2013. It also notes how these accounts are affected by the Affordable Care Act (ACA), how accessible they are to taxpayers, and how many people use them.  http://www.fas.org/sgp/crs/misc/RS21573.pdf