What is the difference between an HSA and an FSA?

HEALTH SAVINGS ACCOUNT FLEXIBLE SPENDING ACCOUNT
You can only set up an HSA if you enroll in a qualified high deductible plan, such as the Basic HSA or HSA Plus medical plan.You can only contribute to the Health Care FSA if you enroll in the Basic PPO or Classic PPO medical plan.
An HSA allows you to set aside pre-tax dollars to pay for eligible health care expenses for yourself and your tax dependents. You can also invest the money in your account and let it grow (similar to a 401(k) plan), so you can save it for future health care expenses.A Health Care FSA allows you to set-aside pre-tax dollars to pay for eligible medical, prescription drug, dental and vision expenses. You cannot invest the money in your account.
XPO contributions to the HSA Plus plan will be contributed to your account in two installments: 50% in January and 50% in July. You can only use the actual amount in your account.On January 1, you can use the full amount you elected to contribute to the Health Care FSA.
You don’t have to use your entire HSA balance each year. Whatever you don’t use stays in your account, continues to earn interest and can be used for future medical expenses. You can also take the funds with you if you leave XPO.It’s important to estimate carefully, because there’s a “use-it or lose-it” rule, which means any money left in your Health Care FSA will be forfeited.
Once you enroll, XPO will set up your account with Fidelity. When you need to pay for eligible health care expenses, you can either use the health care payment card, or you can pay for the expenses and reimburse yourself through Fidelity’s website. XPO partners with Fidelity to manage your account.Once you enroll, XPO will set up your account with WageWorks. When you need to pay for eligible health care expenses, you can either use the health care payment card, or you can pay for the expenses and reimburse yourself through WageWorks’ website.