added info: flexible spending arrangements (health FSAs) are capped at $2,500 for 2013. This is a rather large drop and might require you to do some additional budgeting this year.
Thanks, I didn't catch that cap change. We debated going into FSAs versus HSAs in the article, but it was already getting long - I think it's worth looking at in more depth separately.
FSAs are only available to people choosing an insurance plan from their employer. So, they're not applicable to the situation we cover in this article where somebody is buying insurance individually.
It looks like FSA caps are reduced from a previously employer-determined limit (often e.g. $5000) to a federally mandated $2500, but HSA caps are increasing from $3100 to $3250 (for individuals).
Are HSA's the kind of thing you need to opt-into during the enrollment window, or you've missed the opportunity till next year? Never used one before, but it might make sense this year.
HSA != FSA. The former is a savings/investment account that lets you keep your money year over year, to be used for medical expenses. FSA's are use-it-or-lose it. HSA's are typically paired with a particular type of high-deductible insurance, while FSA's tend to go along with any type of plan.
