Quote Originally Posted by know1 View Post
Also, I can't remember the answer to this question, but can you ONLY use the money for medical/prescription costs? Where this comes into play is if you switch jobs and go somewhere that the HSA isn't offerred. Now you have a bunch of money that you can't touch - or don't need to touch because your new employer's insurance is paying it.
You can withdraw the money at any time, but if it's not used for medical or prescription costs, you have to pay taxes on it. That's for an HSA. An FSA is generally a "use it or lose it" deal. And like Geo mentioned, if you have an FSA and an HSA, there are restrictions on what you can use the FSA for. I have one because I wear glasses and my wife wears contacts.