FSA & HSA
🔍 FSA (Flexible Spending Account)
Health Equity Login Directions
Contact: 1-877-924-3967
Who qualifies?
Available through an employer — you don’t need a high-deductible health plan (HDHP).
Key features:
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Use it or lose it: Funds must be used within the plan year. SPS follows IRS Carryover limits, $660 for 2025.
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Contribution limit (2025): $3,200 per year (set by IRS, may vary slightly each year).
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Tax benefits: Contributions are pre-tax, reducing your taxable income.
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Employer-owned: If you leave your job, non-transferrable to/from other workplaces
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No investing: Funds don’t grow through investments.
💰 HSA (Health Savings Account)
Login to the Sydney App or Anthem.Com and go to My Plans and then Select Savings
Contact: 1-866-686-4798
Who qualifies?
You must be enrolled in a high-deductible health plan (HDHP).
Key features:
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Triple tax benefit:
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Contributions are pre-tax
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Growth is tax-free
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Withdrawals for qualified medical expenses are tax-free
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Contribution limit (2025):
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Individual: $4,300
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Family: $8,550
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+$1,000 catch-up if 55 or older
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Rolls over forever: No "use it or lose it" — it stays with you even if you change jobs.
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Investable: You can invest the funds in mutual funds, ETFs, etc., often after hitting a minimum balance.
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Retirement backup: After age 65, you can use HSA funds for non-medical expenses (you’ll just pay regular income tax, like a traditional IRA).
🧠 Quick Comparison
| Feature | FSA | HSA |
|---|---|---|
| Eligibility | Anyone with employer offering FSA | Must have HDHP |
| Contribution limit (2025) | $3,200 | $4,300 (indiv) / $8,550 (family) |
| Rollover | Limited or none | Unlimited |
| Investment | No | Yes |
| Portability | No | Yes |
| Use for retirement | No | Yes, after 65 |