HSA or HRA?
To help decide which medical plan option is right for you, consider how the accounts that accompany each option work. For more detail, please also see:
Purpose
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| Current year and long-term health care expenses | Current year health care expenses only |
Annual Fordham contribution
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| $750 Employee / $1,500 Family | $400 Employee / $800 Family |
Can you contribute tax-free dollars?
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| Yes, up to IRS limits | No |
Covers what eligible expenses?
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| Qualified medical, dental, and vision expenses. For a complete list of eligible expenses, visit irs.gov and see Publication 502. | Qualified medical, dental, and vision expenses. For a complete list of eligible expenses, visit irs.gov and see Publication 969. |
Rollover limit for unused dollars at year end?
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| No limit | Up to December 31, 2020 |
Take funds with you when you retire or leave Fordham?
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| Yes | No (but unused funds may be used for up to one year provided termination of employment occurs by December 31, 2020). |
Can you contribute to a Health Care Flexible Spending Account?
| HSA (with Health Investment Option) | HRA (with Enhanced Standard Option) |
| Yes, through a Limited Purpose FSA | Yes |