What to do with Your HSA Money at Year End?

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This is one of the most common HSA misconceptions. However, with an HSA you can spend it, save it or invest it for years to come.

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2017 is coming to a close and many HSA customers are asking the same question, what can I do with my HSA money from this year? This is one of the most common HSA misconceptions. Unlike the FSA, the HSA has no use it or lose it provision. You can spend it, save it, or invest it for years to come.

End of Year HSA Balance Options

  • Save Your HSA – You can save for next year or years to come to prepare for any expected or unexpected medical expenses. On top of that, you can leverage Lively’s FDIC-Insured Interest Bearing accounts to help your money grow.
  • Invest Your HSA – Investing your HSA creates a long-term growth strategy to increase your health savings funds. HSAs create the only vehicle to use and invest 100% tax-free health dollars. On top of that, all HSA growth is 100% tax-free as well. Invest your tax-free dollars and take advantage of these key HSA parameters to get the most of your HSA money.
  • Use Your HSA – we don’t mean to suggest you can’t use your HSA money, any time you want. Use it for any out-of-pocket qualified medical expenses. If you need a refresher, you can see the full list of eligible HSA expenses here.

Use your HSA the way you want to: save it, spend it or invest it. Your HSA money is yours to use today or save for years to come. You can take it from employer to employer or provider to provider so you can create the tax-free financial health savings you want. HSAs are not limited by end of year restrictions. Use their flexibility in the ways that work best for you.

If you need more help with HSA decisions, check out our blog. We will make you a healthcare benefits expert in no time, without any extra work or effort on your end.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.