Can You Roll Over HSA to Next Year? Understanding Health Savings Account Rollover

Health Savings Accounts (HSAs) are a valuable tool for saving money on healthcare expenses while enjoying tax benefits. One common question that arises among HSA account holders is whether they can roll over their HSA balance to the next year.

The good news is that HSAs offer the flexibility of rollover, allowing you to keep unused funds in your account from year to year. Here's what you need to know about rolling over your HSA:

• Unlike Flexible Spending Accounts (FSAs), which have a 'use it or lose it' rule, HSAs do not have a deadline for spending your funds.
• There is no limit to how much you can roll over each year, so you can accumulate funds in your HSA for future healthcare expenses.
• Rolling over your HSA balance can help you save for larger medical expenses or prepare for healthcare costs in retirement.
• Even if you change jobs or switch to a different health insurance plan, your HSA balance remains yours to keep and roll over.
• It's important to review your HSA provider's rollover policies to understand any specific rules or requirements that may apply.

By taking advantage of the rollover feature in your HSA, you can build a financial safety net for your healthcare needs and secure your financial well-being in the long term.

Health Savings Accounts (HSAs) not only provide a convenient way to save on medical expenses but they also empower account holders with the possibility to roll over their balance into the next year, which can be a lifesaver for those planning for unexpected health costs.