Archives

Yes. Keep receipts for HSA purchases and withdrawals, since withdrawals must be for qualified medical expenses.

Your HSA is yours to keep. Changing jobs, moving, or switching financial institutions does not mean giving up the funds in your account.

No! There’s no “use it or lose it” rule. Unused funds stay in your HSA and can continue growing tax-free until you need them.

An HSA offers tax advantages, lets unused funds roll over year after year, and remains with you if you change jobs, move, or switch financial institutions. After age 65, you can also use HSA funds for non-medical expenses without penalty.

You must be at least 18 years old and covered by a qualifying High Deductible Health Plan (HDHP). You cannot have Medicare, another non-HDHP health plan, or be claimed as a dependent on someone else’s tax return.