Health Savings Accounts and Flexible Spending Accounts are ways to set aside money specifically for medical expenses before taxes are taken out of your paycheck. This means the money you put in reduces the amount of income that gets taxed, which can save you real dollars each year. These accounts work differently from regular savings accounts—they have rules about what you can spend the money on and when you can access it, but the tax advantage makes them worth understanding if your employer offers them.

The articles here explain how these accounts work, what counts as a medical expense you can pay for, how much you can contribute each year, and what happens to money you don't spend. You'll learn the key differences between the two account types so you can figure out which one might work for your situation, and how to avoid costly mistakes when using them.