What Does Balance Forward Mean in HSA?

Balance forward in an HSA refers to the amount of funds that were available in your health savings account at the end of the previous period. It represents the remaining balance from previous contributions and withdrawals.

When you see 'balance forward' on your HSA statement or account summary, it indicates the leftover funds from the previous period that are now available for use in the current period.

Having a balance forward in your HSA can offer several benefits, such as:

• Allows you to carry over unused funds from one year to the next
• Provides a cushion for unexpected medical expenses
• Helps you save for future healthcare costs
• Enables you to plan and budget for healthcare needs

The term 'balance forward' in your Health Savings Account (HSA) is crucial as it reflects the funds remaining from the previous financial period. This amount rolls over to your current balance, making it a valuable resource for your healthcare expenses.