Do Benefits in HSA Accounts Expire? - Everything You Need to Know

Health Savings Accounts (HSAs) are a valuable tool for individuals and families to save money for medical expenses while enjoying tax benefits. One common question that comes up is whether the benefits in HSA accounts expire. The good news is that unlike flexible spending accounts (FSAs), the funds in HSA accounts never expire.

Here are key points to know about the expiration of benefits in HSA accounts:

• Funds in HSA accounts rollover from year to year, allowing you to build a significant savings cushion for future medical needs.
• There is no deadline to use the funds in an HSA account, giving you flexibility and peace of mind.
• Even if you change jobs or health insurance plans, your HSA account and its benefits remain intact.
• You can invest the funds in your HSA account, potentially allowing them to grow over time and provide even more long-term benefits.
• It's important to keep track of your HSA account balance and use the funds for qualified medical expenses to fully maximize the benefits of the account.

Health Savings Accounts (HSAs) provide an amazing opportunity for individuals and families to save for medical costs while benefiting from tax advantages. One frequently asked question is if the funds in HSA accounts ever expire. The answer is refreshing: unlike Flexible Spending Accounts (FSAs), your HSA funds will never expire.