Will HSA Roll Over? Understanding the Basics of Health Savings Account (HSA) Rollover

Health Savings Accounts (HSAs) are a valuable tool for individuals to save money for medical expenses while enjoying tax benefits. One common question that individuals have about HSAs is whether the funds in the account will roll over from year to year.

It's important to note that funds in an HSA do not expire at the end of the year. Unlike Flexible Spending Accounts (FSAs), which have a 'use it or lose it' rule, HSA funds rollover and accumulate over time.

Here are some key points to understand about HSA rollovers:

• HSAs are owned by the individual, not the employer, so the funds remain with you even if you change jobs or health plans.
• There is no time limit on using the funds in an HSA, allowing you to build a substantial balance for future medical expenses.
• Any unused funds at the end of the year will carry over to the next year, providing a long-term savings opportunity.

Overall, HSAs offer flexibility, control, and tax advantages for managing healthcare costs both now and in the future. By understanding the rollover feature of an HSA, individuals can make informed decisions about their healthcare savings strategy.

Health Savings Accounts (HSAs) are more than just a way to save for medical costs; they provide a robust financial strategy that carries over every year, unlike traditional Flexible Spending Accounts (FSAs). This means that if you don't use your funds this year, they'll still be available for next year's expenses.