In some circumstances, transferring funds from one H.S.A. to a different can take weeks, throughout which the unique account continues to cost a month-to-month charge, the report stated. It additionally cited client complaints about funds that had been misplaced throughout the switch from one financial institution to a different.

The analysis agency Morningstar evaluated 10 H.S.A. plans in October utilizing standards like charges, curiosity on financial savings and funding decisions. (The agency appeared solely at accounts obtainable on to people, slightly than these supplied by employers, so particulars could fluctuate.) Constancy Investments was the one supplier rated “excessive” general for each spending and investing. Its H.S.A. supplied an rate of interest on financial savings properly above 2 p.c, whereas its opponents paid lower than 1 p.c.

“That’s a giant shortcoming,” stated Greg Carlson, senior supervisor analysis analyst at Morningstar.

Listed below are some questions and solutions about well being accounts:

How can I finest keep away from having cash left over in an F.S.A.?

Sara Taylor, senior director of worker spending accounts at the advantages advisor WTW, suggests taking a detailed take a look at your previous medical bills earlier than deciding how a lot to contribute to your F.S.A. “It’s arduous to do, for some folks,” she stated. However your “rationalization of advantages” for final yr — the kinds that describe what remedies you had and what share of the price you owe — can assist you give you an inexpensive quantity. Was final yr an anomaly since you had main surgical procedure? In that case, chances are you’ll need to contribute a decrease quantity. Many employers supply on-line instruments that can assist you make an estimate.

It additionally helps to know what you possibly can spend F.S.A. cash on. That manner, if you end up with a stability on the finish of the yr, you should use the cash to purchase eligible over-the-counter gadgets like ache medicine and even sunscreen. A useful useful resource is the F.S.A. Store, which incorporates a web-based alphabetical listing of eligible and ineligible gadgets.

If I forfeit money in my F.S.A. to my employer, have I wasted my cash?

Nobody desires to surrender funds, however employees can nonetheless come out forward, in contrast with not contributing, due to the tax advantages of F.S.A. contributions, Mr. Spiegel stated. Say a hypothetical employee with a 30 p.c marginal tax price (together with federal, state, payroll and native taxes) contributes $1,500 to an F.S.A., realizing $450 in tax financial savings. If the employee forfeits lower than $450 again to the employer, the employee will nonetheless have benefited from collaborating.