Can You Roll Over an FSA to an HSA? Understanding the Process

If you have a Flexible Spending Account (FSA) and are considering switching to a Health Savings Account (HSA), you might be wondering if you can roll over your funds. The good news is that in some cases, you can indeed roll over an FSA to an HSA. However, there are specific rules and guidelines that must be followed to do so.

Here are some key points to consider:

• FSAs are typically
  

  If you have a Flexible Spending Account (FSA) and are considering the benefits of switching to a Health Savings Account (HSA), you might be wondering if rolling over your funds is an option. The good news is that in certain circumstances, transferring your FSA balance to an HSA is possible. Nonetheless, be aware that there are strict rules and guidelines you must adhere to.

  It's crucial to remember that FSAs generally have a use-it-or-lose-it policy, meaning funds not spent by the end of the plan year may be forfeited. In contrast, HSAs allow your money to grow tax-free and accumulate over time, making them an attractive option for saving for medical expenses in the future.