Do You Lose the Money from an HSA Account You Don't Use?

Have you ever wondered what happens to the money in your Health Savings Account (HSA) if you don't use it all? The good news is that unlike Flexible Spending Accounts (FSAs), the funds in your HSA don't expire at the end of the year. This means you won't lose the money you contribute to your HSA even if you don't use it all in a given year.

HSAs are a great way to save for current and future medical expenses while enjoying tax advantages. Here's what happens to the money in your HSA:

• Unused funds roll over year after year
• You can invest the money for potential growth
• It's your money, and you keep it even if you change jobs or health plans
• After turning 65, you can withdraw funds penalty-free for non-medical expenses (though regular income tax applies)

So, the money in your HSA belongs to you, and you won't lose it just because you didn't use it in a particular year. It's a valuable tool for managing healthcare costs and saving for the future.

Have you ever found yourself contemplating what happens to those extra dollars tucked away in your Health Savings Account (HSA) if you don’t end up using them? The reassuring fact is, unlike Flexible Spending Accounts (FSAs) that leave you scrambling to spend what you have by year-end, the funds in your HSA carry over. So, every penny you add continues to work for you year after year.