Do You Lose Money in HSA Account?

Many people wonder if they lose money in an HSA account, but the truth is that HSA funds never expire. Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax advantages. Unlike Flexible Spending Accounts (FSAs), the money you contribute to an HSA is yours to keep, even if you change jobs or health insurance plans.

Here's why you don't lose money in an HSA account:

• Contributions rollover year after year
• HSA funds are portable and stay with you
• Unused funds continue to grow tax-free
• Withdrawals for qualified medical expenses are tax-free

So, while you may not use all your HSA funds in a particular year, you won't lose them. In fact, HSA funds can be a valuable retirement savings tool once you turn 65, as you can use them for non-medical expenses penalty-free.

It's common for people to ask, 'Do I lose money in my HSA account?' The answer is quite reassuring: you don't lose money in an HSA account. Unlike other accounts, the funds in a Health Savings Account (HSA) don’t expire, providing you with exceptional long-term savings potential for future medical costs. The beauty of HSAs lies in their ability to offer incredible tax advantages while allowing you to accumulate funds for years to come.