A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.
https://en.wikipedia.org/wiki/Health_savings_account
A flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States.
https://en.wikipedia.org/wiki/Flexible_spending_account
Flexible Spending Account. A Flexible Spending Account (FSA) is an IRS Code Section 125 Cafeteria Plan. Through it, Participants set aside funds on a pre-tax basis each year into their FlexSystem account(s), and subsequently access those funds for qualifying healthcare and/or dependent care expenses incurred within the Plan Year.
https://www.tasconline.com/products/flexsystem/flexsystem-fsa/
An FSA's coverage period ends either at the time the plan year ends for one's plan or at the time when one's coverage under that plan ends. An example of such an event is the loss of coverage due to a separation from the employer.
https://en.wikipedia.org/wiki/Flexible_spending_account
Offering an FSA as part of an employee benefits program provides valuable benefits to both employers and their eligible employees. Reduces payroll taxes (Social Security and Medicare): for every dollar of employee contribution into the FSA Plan, employers save 7.65% FICA taxes.
https://www.tasconline.com/products/flexsystem/flexsystem-fsa/
1 Saves on the cost of eligible healthcare and/or dependent care expenses: using pre-tax dollars spells out a savings of nearly thirty percent. 2  Offers immediate access to elected healthcare FSA funds.  Covers common types of expenses: medical, dental, ortho, vision, prescription drugs, day care, and more.
https://www.tasconline.com/products/flexsystem/flexsystem-fsa/
Most cafeteria plans offer two different flexible spending accounts; one is for qualified medical expenses and the other is for dependent care expenses. A few cafeteria plans offer other types of FSAs, especially if the employer also offers an HSA.
https://en.wikipedia.org/wiki/Flexible_spending_account
Health savings accounts are similar to medical savings account (Archer MSA) plans that were authorized by the federal government before HSA plans. HSAs can be used with some high-deductible health plans.
https://en.wikipedia.org/wiki/Health_savings_account
The most common type of FSA is used to pay for medical and dental expenses not paid for by insurance, usually deductibles, copayments, and coinsurance for the employee's health plan. As of January 1, 2011, over-the-counter medications are allowed only when purchased with a doctor's prescription, except for insulin.
https://en.wikipedia.org/wiki/Flexible_spending_account
The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA).
https://en.wikipedia.org/wiki/Flexible_spending_account
what is medical fsa plan
Medical flexible spending account is an employee benefits program providing valuable benefits to both employers and their eligible employees.