FSA & HSA

[arleyl80]

Our health insurance is covered through my wife's job and it's an HDHP plan. I would like to open an HSA plan for 2020. However,  my wife and I both made contributions to FSA plans through our jobs in 2019 and we have not withdrawn all of the funds. Can we roll over the maximum allowed in our FSA plans ($500) to 2020 and still make contributions to a HSA in 2020? Is that allowed or do we have to use up all the FSA funds in 2019? We won't be making FSA contributions anymore in 2020. 

[Bsch4477]

You must spend the money in your FSA account by the end of the year or risk losing it for good. Many employers offer either more flexibility with a two-and-a-half-month grace period rather than December 31, 2019 or let you roll $500 into the next year. They can't offer both.  Check with your employer.

[Anonymous]

a taxpayer covered by his or spouse's employer's medical expense reimbursement plan, a healthcare flexible spending account (FSA) plan or a health reimbursement  arrangement (HRA) is generally ineligible to make HSA contributions.  

so you'll have to zero out your FSA balance on or before 12/31/2019 and do not sign up to participate in an FSA for 2020