Which is true of a health savings account but not a flexible spending account?(1 point)

Question

Responses

You can use it to pay for prescription medicines.
You can use it to pay for prescription medicines.

You can use it to pay for over-the-counter medicines.
You can use it to pay for over-the-counter medicines.

You must spend the money in it within a certain period of time.
You must spend the money in it within a certain period of time.

You can get the account only if you have a health insurance plan with a high deductible.
You can get the account only if you have a health insurance plan with a high deductible.

Answer 1

The statement that is true of a health savings account (HSA) but not a flexible spending account (FSA) is:

You can get the account only if you have a health insurance plan with a high deductible.

This is a key distinction between HSAs and FSAs. HSAs are specifically designed to be paired with high-deductible health plans (HDHPs), whereas FSAs do not have this requirement.