Can HSA Reimburse Previous Year's Expenses with Current Year's Contributions?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. One common question that users have is whether HSAs can reimburse previous year's expenses with current year's contributions.

The answer to this question is yes, HSAs can reimburse previous year's expenses with current year's contributions. It's one of the flexible features of an HSA that allows you to cover qualified medical expenses from any year, as long as the expense was incurred after the HSA was established.

Here's how it works:

• HSAs operate on a
  

  Have you ever wondered if your Health Savings Account (HSA) can reimburse you for medical expenses incurred in a previous year? The good news is that it can! As long as your expenses are classified as qualified medical expenses and were incurred after your HSA was set up, you can use your current year's contributions to cover those past costs.