FSA/HSA transition

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Hello – I’m in charge of our companies benefits (small company, and I’m the Controller/CFO so not really experienced on this side of it previously), and I just want to make sure I’m thinking of this right. We offer 3 plans, one of which is a high deductible HSA plan (new last year). I have one employee switching from one of the other plans to the HSA, but he also puts into the health FSA (this didn’t happen last year when I introduced the plan). Unfortunately, our plan year starts on 12/1 (I got this one to a 13 month contract so we get to a calendar year starting 1/1/23), so there is a month that he will have the HSA plan but still be putting into the FSA. So, just to be clear, he can’t put into the HSA until the FSA plan year is over, correct?

submitted by /u/lemmywinks24
[link] [comments]Hello – I’m in charge of our companies benefits (small company, and I’m the Controller/CFO so not really experienced on this side of it previously), and I just want to make sure I’m thinking of this right. We offer 3 plans, one of which is a high deductible HSA plan (new last year). I have one employee switching from one of the other plans to the HSA, but he also puts into the health FSA (this didn’t happen last year when I introduced the plan). Unfortunately, our plan year starts on 12/1 (I got this one to a 13 month contract so we get to a calendar year starting 1/1/23), so there is a month that he will have the HSA plan but still be putting into the FSA. So, just to be clear, he can’t put into the HSA until the FSA plan year is over, correct? submitted by /u/lemmywinks24 [link] [comments]Read Morer/HealthInsurance

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