How much can roll into next year on an HSA?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare costs while also saving for the future. One common question that often arises is how much money can roll over from one year to the next in an HSA account.

Unlike Flexible Spending Accounts (FSAs), funds in an HSA do not expire at the end of the year. This is one of the key advantages of an HSA, providing account holders with the flexibility to save and accumulate funds over time. So, how much can you roll over into the next year on an HSA? Let's find out!

The amount of money that can roll over into the next year on an HSA depends on the annual contribution limits set by the IRS. For 2021, the contribution limit for an individual with self-only coverage is $3,600, and for those with family coverage, it is $7,200.

Additional details and benefits of rollovers in an HSA:

• Any unused funds in an HSA can be carried over from year to year without any limit.
• Rollover funds continue to grow tax-free, providing account holders with a way to build up their healthcare savings over time.
• HSAs are portable, meaning that the account stays with you even if you change jobs or health plans.

In summary, when it comes to rollovers in an HSA, the amount that can roll over from one year to the next is unlimited. This makes HSAs a powerful tool for long-term healthcare savings and financial planning.

When it comes to Health Savings Accounts (HSAs), one of the most appealing features is the rollover capability. In fact, you can carry over any unused funds from one year to the next without limit, enabling you to build a robust savings cushion for healthcare expenses.