Can I Move Money Between HSA?

Yes, you can move money between Health Savings Accounts (HSAs). This flexibility allows you to manage your healthcare funds effectively and maximize the benefits of your HSA.

There are different ways to transfer funds between HSAs:

• Trustee-to-Trustee Transfer: Direct transfer between two HSAs without any tax consequences.
• Rollover: Moving funds from one HSA to another within 60 days, subject to once-per-year limitation.
• Contribution: Contributing money to your HSA and then using it for qualified medical expenses.
• Employer Contributions: Your employer can also contribute to your HSA.

It's essential to follow IRS guidelines and HSA rules when transferring funds to avoid penalties or tax implications.

Absolutely! Moving money between Health Savings Accounts (HSAs) is not only possible but also a smart way to optimize your healthcare expenditures. With different methods available, you can choose what suits your financial strategy best.