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What should I do with the left over money in my HSA? If it rolls over to the same account next year do I have to pay tax on the balance left?

 
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AnnetteB6
Expert Alumni

What should I do with the left over money in my HSA? If it rolls over to the same account next year do I have to pay tax on the balance left?

No, you do not have to pay tax on the balance of money left in a Health Savings Account (HSA). 

 

It can stay in the same account from one year to the next and does not have to be depleted by a certain time.  You will only pay tax on distributions from an HSA if the money is not used to pay qualified medical expenses while you are under the age of 65.  

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1 Reply
AnnetteB6
Expert Alumni

What should I do with the left over money in my HSA? If it rolls over to the same account next year do I have to pay tax on the balance left?

No, you do not have to pay tax on the balance of money left in a Health Savings Account (HSA). 

 

It can stay in the same account from one year to the next and does not have to be depleted by a certain time.  You will only pay tax on distributions from an HSA if the money is not used to pay qualified medical expenses while you are under the age of 65.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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