If you're a TRICARE beneficiary, you might be wondering about your options for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Understanding how these accounts work alongside your TRICARE coverage can help you make more informed decisions about managing your healthcare expenses.  

Here's an overview of how TRICARE interacts with HSAs and FSAs and what you need to know to make the most of these options. 

I have TRICARE. Can I enroll in a Health Savings Account? 

No, TRICARE typically doesn’t qualify for a Health Savings Account or HSA due to its lower deductibles. However, certain TRICARE beneficiaries (TRICARE for Life or TRICARE Reserve Select) may be eligible for HSAs due to their high-deductible health plan.  

TRICARE and Flexible Spending Accounts (FSAs) 

TRICARE can be used alongside a Flexible Spending Account (FSA). TRICARE does not directly offer an FSA, but beneficiaries can still contribute to an FSA through their employer if offered. 

There are two FSAs offered: 

• The Dependent Care FSA (DCFSA) 

• The Health Care FSA (HCFSA) 

These FSAs can help cover eligible dependent care and healthcare expenses like TRICARE deductibles, copayments, and other non-covered services, making it a useful tool for managing medical costs. However, FSAs must be used within the plan year or the funds may be forfeited, so careful planning is essential. 

Visit Eligible Dependent Care FSA (DCFSA) Expenses - FSAFEDS for a list of what is and isn’t covered under the DCFSA.