HSAs, HRAs and FSAs explained

Postal Service employees who want to save money for medical expenses have several options during this year’s open season, which runs through Dec. 12.

If you enroll in a high-deductible health plan (HDHP), you may be eligible to contribute to a health savings account (HSA).

An HSA allows you to pay for current medical expenses and save for future expenses on a tax-deductible or pretax basis. An HSA is yours to keep, even if you change health plans or leave the Postal Service.

Additionally, some plans offer health reimbursement arrangements (HRAs), which are funds you can use to help cover out-of-pocket medical expenses. HRAs are generally available to employees who enroll in a consumer-driven health plan (CDHP).

If you prefer plans other than an HDHP or CDHP, you can sign up for a flexible spending account (FSA), which allows you to set aside money on a pretax basis to pay for health and dependent care expenses.

The Open Season LiteBlue page has more information to help you evaluate your options and choose a plan that best fits your needs.


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