What is the difference between an HRA, HSA and an FSA?

HRA: If you are enrolled in the Meritain HRA Low or High Medical Plans, you have access to an HRA. The company contributes to this account for you and you can use the money to pay for eligible medical out-of-pocket expenses for you and your dependents. How much the company contributes to your HRA depends on which medical plan you are enrolled in, and the coverage level. To learn more, click here.

HSA: If you are enrolled in the Base Medical Plan, you can contribute to an HSA. The funds you contribute to an HSA is known as a “medical nest egg.” Because your money grows in the account tax-free, you can decide whether you want to use the money now or in the future – even in retirement. You can contribute up to IRS limits to this account. For 2025, the IRS has capped the pre-tax payroll contributions to $4,300 if you have individual coverage, or up to $8,550 if you have family coverage. Wedgewood will also contribute your HSA - $840 annually ($70 per month). To learn more, click here.

FSA: You can be enrolled in any medical plan except for a High Deductible Health Plan to participate in an FSA. The money in your FSA can be used to purchase health-related items that are not taxed, so the things you buy with your FSA contributions are like using a 20% or even a 30% off coupon (depending on your tax bracket). To learn more, click here.