Can You Roll Money from One HSA to Another?

Yes, you can roll money from one HSA (Health Savings Account) to another. This process is called an HSA transfer or rollover, and it allows you to move funds from your existing HSA to a new HSA without any tax consequences or penalties.

There are a few important things to keep in mind when considering rolling over money from one HSA to another:

• Make sure the transfer is done correctly to avoid any tax implications.
• Check with both HSA providers to understand their transfer processes.
• Ensure the rollover is completed within 60 days to avoid tax penalties.

When you transfer funds from one HSA to another, the money retains its tax-advantaged status, and you can continue to use it for qualified medical expenses.

If you're feeling overwhelmed with multiple Health Savings Accounts (HSAs), you might be relieved to know that you can easily roll over your funds from one HSA to another. This option is popular among those who wish to streamline their finances. Just remember, keeping the process direct between the HSA providers is key to avoiding unintentional tax hits!