Is an HSA the same thing as an HCRA?

[enymenyminymo]

Health Care Reimbursement Account (HCRA) is  money I have taken out of my check each month to pay for possible medical expenses. It then reduces the amount of my salary that I pay taxes on.

[Critter-3]

They are similar in how they are funded and what expenses they pay for  HOWEVER only the HSA's unused balance at the end of the year/period  can be carried forward forever without forfeiture.  

[Opus 17]

An HCRA is another name for and FSA or flexible spending account.  The main differences are:

1. The HCRA/FSA has lower annual contribution limits

2. Money left over in an HCRA or FSA is forfeit, and can't be carried over (or is only carried over up to a maximum set by your plan).  The forfeited amounts are used to pay plan administration expenses.  With an HSA, unspent money is yours to keep in the account and spend forever.

3. An HCRA or FSA is only an employee benefit, you can't make out of pocket contributions to get a larger tax deduction.  With an HSA, you can open a private HSA as long as you have qualifying medical insurance, even if your employer doesn't sponsor it.

4. Contributing to an HCRA or FSA is a work benefit and the employer determines who is eligible.  To contribute to an HSA, you must be enrolled in an eligible high deductible health plan (HDHP) and have no other disqualifying medical coverage.

5. An HCRA or FSA is not reported anywhere on your tax return.  The income is already subtracted from your W-2 wages, you don't report the contributions anywhere else and you don't report medical expenses paid with HCRA or FSA funds.