Question 1

What's the difference between HSA and FSA?

Accepted Answer

HSA (Health Savings Account) funds roll over indefinitely, can be invested, and stay with you if you change jobs, but require a high-deductible health plan. FSA (Flexible Spending Account) works with any health plan but typically has use-it-or-lose-it rules, though some plans allow $640 rollover.

Question 2

How much should I contribute to my 401k?

Accepted Answer

At minimum, contribute enough to get your full employer match (free money). Ideally, aim for 15% of your salary. The 2025 contribution limit is $23,500 ($31,000 if you're 50+). Starting with your match and increasing by 1% each year is a good strategy.

Question 3

Should I choose a PPO or HDHP?

Accepted Answer

Choose HDHP if you're generally healthy, want HSA savings benefits, and can handle higher out-of-pocket costs when you do need care. Choose PPO if you have regular medical needs, want predictable costs, and value flexibility to see specialists without referrals.

Question 4

Does my FSA money roll over?

Accepted Answer

Traditional FSAs have 'use it or lose it' rules, but many plans now offer either: (1) up to $640 rollover to next year, OR (2) a 2.5 month grace period. You get one or the other, not both. Check with your HR department for your specific plan rules.

Question 5

What is a deductible?

Accepted Answer

A deductible is the amount you pay out-of-pocket before your insurance starts covering costs. For example, with a $2,000 deductible, you pay the first $2,000 of medical bills. After that, insurance kicks in (usually with coinsurance). Deductibles reset each year on January 1.

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