Do Your HSA Funds Rollover? - Everything You Need to Know About HSA Funds

One of the common questions people have about Health Savings Accounts (HSAs) is whether their funds rollover from year to year. The answer to this question is a resounding yes! HSA funds do rollover, which is one of the key advantages of this savings account.

HSAs are designed to help individuals save money for medical expenses both in the present and for the future. Here are some key points to keep in mind regarding HSA rollovers:

• Unlike Flexible Spending Accounts (FSAs), HSA funds do not expire at the end of the year. The funds you contribute to your HSA remain in the account indefinitely.
• Any unused funds at the end of the year are not forfeited. Instead, they rollover to the next year, allowing you to continue building your savings over time.
• Rollover of funds also means that there is no use-it-or-lose-it policy with HSAs, giving you peace of mind that your savings are safe and growing.

Additionally, having funds rollover in your HSA provides flexibility and long-term savings benefits. You can use your HSA funds for qualified medical expenses at any time, even if the expenses occur years after the initial contribution.

Overall, understanding how HSA funds rollover empowers you to make the most of your healthcare savings and plan for future medical needs without the pressure of a deadline or losing your hard-earned money.

Many new HSA account holders often wonder if their contributions can carry over from one year to the next. The good news is that HSA funds do indeed roll over each year, making them a valuable asset for your financial future.