Saving for Your Health
Keeping up with medical bills may be challenging. That’s why you may want to consider planning ahead—and make sure you’re taking advantage of tax-free ways to save. Compare these three types of health savings accounts.
| Healthcare Flexible Spending Account | Health Savings Account |
|---|---|---|
Works with: | All Walgreens medical plans | Bronze and Silver High-Deductible Health Plans (HDHPs) |
Who makes pre-tax contributions? | You | You and Walgreens (when you complete the Health Questionnaire) |
Does the account earn non-taxable interest? | No | Yes |
Are the reimbursements from my account untaxed? | Yes | Yes |
Does my balance roll over annually? | No | Yes |
Can I take the account with me if I leave Walgreens? | No | Yes |
What is the IRS limit for 2018 contributions? | $2,600 | $3,450 individual $6,900 children/family $1,000 HSA “catch-up” (age 55 or older) (Total of your contributions + Walgreens’, if applicable) |
Who administers my account? | Your Spending Account™ | Optum Bank® |
When are my contributions available for me to use? | Immediately | Your contributions are available after they are deposited; Walgreens’ contribution is available 4–6 weeks after you complete your Health Questionnaire |
Are domestic partners eligible for reimbursement? | Yes | No |
*If you’re on an HSA plan and a Healthcare FSA, your FSA will automatically become a Limited Purpose FSA that can be used for eligible dental and vision expenses.
Your Spending Account is a trademark of Alight Solutions LLC.