Can You Do a Rollover Into an HSA? - Everything You Need to Know

Many people wonder if they can do a rollover into an HSA (Health Savings Account). The answer is yes, you can! Rollovers into an HSA can provide several benefits and flexibility for managing healthcare expenses.

When considering doing a rollover into an HSA, it's essential to understand the rules and requirements involved. Here is a breakdown of the rollover process:

• Only funds from another HSA or an Archer MSA (Medical Savings Account) can be rolled over into an HSA.
• The rollover must be completed within 60 days to avoid tax penalties.
• There are no limits on the amount that can be rolled over into an HSA.
• Rollovers do not count toward the annual contribution limit for HSAs.

By doing a rollover into an HSA, individuals can consolidate funds from other accounts, take advantage of tax benefits, and have more control over their healthcare savings.

Yes, you can definitely do a rollover into an HSA! This option allows individuals to transfer funds from an existing HSA or an Archer MSA, giving you more flexibility in managing your healthcare costs.