Health Savings Accounts (HSA):
Participants in the Anthem Blue Cross HDPPO plans may be able to contribute to a Health Savings Account (HSA). HSAs are a tax-favored savings account that are used with a qualifying high-deductible health insurance plan. HSAs allow you to legally avoid federal income tax by contributing up to a certain contribution amount set by the IRS (contribution limits vary by year). HSAs are not coordinated through the County of Fresno but may be set up through many local banks or financial institutions. For more information on HSAs, please check with your local bank.
Health Savings Accounts with Flexible Spending Accounts:
If you open an HSA to pay for out-of-pocket medical expenses, you cannot also have a Flexible Spending Account (FSA) for medical expenses. However, you can use an FSA to pay for out-of-pocket dental and vision expenses.