Can HSA Money from Prior Year Be Used for Current Year?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also enjoying tax benefits. One common question that arises is whether the money saved in an HSA from prior years can be used in the current year. The answer is yes, HSA funds rollover from year to year, allowing you to use them at any time for qualified medical expenses.

Here are some key points to keep in mind:

• HSA funds are yours to keep, and they never expire.
• You can use HSA funds from prior years for current year medical expenses without any penalties.
• There is no time limit for using your HSA funds, so you can continue to accumulate savings over time.

Yes, you can definitely use HSA funds saved from previous years for current year medical expenses. This flexibility not only helps in managing healthcare costs but also provides you peace of mind knowing that your savings are there when you need them, without worrying about expiration dates.