Can You Only Open Your HSA During Open Enrollment?

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When HSAs can be opened

One common misconception about Health Savings Accounts (HSAs) is that you can only open one during open enrollment. However, that's not the case!

Here's the truth:

• HSAs can be opened at any time during the year, not just during open enrollment periods.
• Opening an HSA is a great way to save and pay for qualified medical expenses with tax advantages.
• Unlike flexible spending accounts (FSAs), funds in an HSA roll over year after year, so you can save for future healthcare expenses.

So, whether you're self-employed, have a high-deductible health plan through your employer, or simply want to take control of your healthcare costs, you can open an HSA whenever you want!

Did you know that Health Savings Accounts (HSAs) are not restricted to open enrollment periods? You can open one at any time throughout the year!