Q: I signed up for a high-deductible health insurance policy at my new job, but my employer offers a flexible spending account rather than a health savings account. I had an HSA with my previous employer. Can I contribute on my own to my HSA and also contribute to my new employer's FSA?

A: You generally can't contribute to both a health savings account and a flexible spending account at the same time, with one exception. Some employers offer HSA-eligible, limited-purpose FSAs that only cover certain expenses, such as dental and vision costs. The FSA must be specifically designated as an “HSA-compatible FSA” for you to be able to contribute to both types of plans. In that case, you could contribute to the FSA but also continue to make contributions to your health savings account, as long as your high-deductible health policy is HSA-eligible.

If your new employer does not offer an HSA-compatible FSA, you'll need to make a choice — either the HSA or the FSA. However, you can make HSA contributions equal to one-twelfth of the year's total times the number of months before you start contributing to the FSA, and you have until April 15, 2017, to contribute the money to the HSA for 2016, says Roy Ramthun, president of HSA Consulting Services. For example, if you start contributing to the FSA in July, you could still make an HSA contribution equal to six months or the first half of the year.

The full year's HSA contribution limit in 2016 is $3,350 if you have individual health coverage or $6,750 if you have family coverage, plus $1,000 if you are 55 or older. Money already in your HSA can remain in the account and be used tax-free for eligible medical expenses at any time, even if you no longer qualify to make new contributions.

Or you could choose not to contribute to your employer's FSA and continue to put money into your HSA and take advantage of its flexibility. As long as you have an HSA-eligible high-deductible health plan, you remain eligible to contribute to the account, even if your employer doesn't contribute or offer a payroll deduction for employees, says Ramthun. In that case, you'd send checks to the bank and deduct the contributions on your income tax return for the latter part of the year, he says.

Ask your HSA administrator about the procedure for making contributions on your own, or you can search for a new HSA administrator at www.hsarates.com. See IRS Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans for more information about deducting HSA contributions.

Kimberly Lankford is a contributing editor to Kiplinger's Personal Finance magazine. Send your questions and comments to moneypower@kiplinger.com.