Liz Weston

Well, that's what we're covering next, John. Pay close attention to our fellow nerd, Tina Orem, who's here with some specifics on those savings vehicles. Tina used to cover taxes for NerdWallet. She's now an editor, but she agreed to recap what she knows about tax-advantaged savings accounts for us. Tina, it's so great to have you back on the show.

So we just spent some time with Kate talking about the basics of choosing a health plan, but we wanted to bring you on to talk about a couple of options that are also offered by many employers, and they're essentially savings vehicles. So explain for us the overall purpose of FSAs, which are flexible spending accounts, and HSAs, which are health savings accounts.

So we just spent some time with Kate talking about the basics of choosing a health plan, but we wanted to bring you on to talk about a couple of options that are also offered by many employers, and they're essentially savings vehicles. So explain for us the overall purpose of FSAs, which are flexible spending accounts, and HSAs, which are health savings accounts.

So we just spent some time with Kate talking about the basics of choosing a health plan, but we wanted to bring you on to talk about a couple of options that are also offered by many employers, and they're essentially savings vehicles. So explain for us the overall purpose of FSAs, which are flexible spending accounts, and HSAs, which are health savings accounts.

Oh, so true. So how do you get these goodies?

Oh, so true. So how do you get these goodies?

Oh, so true. So how do you get these goodies?

Well, let's take a more detailed look at FSAs first. Those are the flexible spending accounts. What are some of the specific elements of these kinds of savings vehicles?

Well, let's take a more detailed look at FSAs first. Those are the flexible spending accounts. What are some of the specific elements of these kinds of savings vehicles?

Well, let's take a more detailed look at FSAs first. Those are the flexible spending accounts. What are some of the specific elements of these kinds of savings vehicles?

Okay.

Okay.

Okay.

Always good.

Always good.

Always good.

Let's get into the nitty gritty of how they actually work. I think most people get something that looks and operates like a prepaid card, don't they? How does the money get on those cards?

Let's get into the nitty gritty of how they actually work. I think most people get something that looks and operates like a prepaid card, don't they? How does the money get on those cards?

Let's get into the nitty gritty of how they actually work. I think most people get something that looks and operates like a prepaid card, don't they? How does the money get on those cards?

And sometimes it's through reimbursement, though, right?