Ownership:
Funds remain in your account from year-to-year. There are no “use it or lose it” rules for HSAs.
Savings:
You can save the money in your account for future medical expenses and grow your account through tax free investment earnings.
Flexibility: You can use the funds in your account to pay for current medical expenses that your insurance may not cover, or save the money for future needs such as:
Health insurance or medical expenses if unemployed
Medical expenses after retirement (some restrictions may apply)
Long-term care expenses and insurance
Medicare premiums
Portability: You can keep your HSA even if you:
Change your job
Change your medical coverage
Become unemployed
Rollover/Transfer:
The Health Savings Account may be funded by an IRA rollover one-time only during the life of the HSA, subject to annual contribution limits.
Rollovers can be done within 60 days from another qualified Medical Savings Account or Health Savings Account. Only one rollover permitted per 12-month period. Rollovers are not subject to annual contribution limits.
