Can You Roll Over HSA Money? | Understanding HSA Rollovers

Many individuals wonder if they can roll over HSA money from year to year. The answer is yes! HSA funds are portable and belong to you, meaning you can keep the money in your account even if you change jobs or health plans.

Here’s how HSA rollovers work:

• When you contribute to your HSA, the money is yours to keep indefinitely.
• If you don’t use all the funds in your HSA by the end of the year, the remaining balance rolls over to the next year.
• There is no use-it-or-lose-it rule with HSAs, unlike FSAs.
• You can invest HSA funds in various investment options to potentially grow your savings over time.
• If you switch employers or health plans, your HSA goes with you. You can continue using the funds for qualified medical expenses.

It’s essential to understand the mechanics of HSA rollovers so you can make the most of this valuable savings tool. By taking advantage of HSA rollovers, you can build a substantial nest egg for future healthcare expenses.

Yes, you can definitely roll over HSA money! Unlike some other accounts, HSAs are designed to carry your funds forward into the next year, allowing you to save for future medical expenses. This means any unspent money at the end of the year remains yours to utilize later. Remember, with HSAs, your contributions remain yours regardless of job changes or insurance plans.