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CRS Compares Tax-Advantaged Accounts for Health Care Expenses

On May 3, 2021, the Congressional Research Service (CRS) released its report, A Comparison of Tax-Advantaged Accounts for Health Care Expenses. The report provides a summary of the general rules for health care-related tax-advantaged accounts including: 1) Health Flexible Spending Arrangements (FSAs); 2) Health Reimbursement Arrangements (HRAs); and 3) Health Savings Accounts (HSAs).

The report covers the main factors for tax-advantaged accounts for health care expenses related to eligibility, contributions, withdrawals and the treatment of unused balances for a specific account as well as data regarding availability and utilization. It also provides a side-by-side table which compares various topics for the individual accounts.

The report is available here.