Can you Roll Over or Transfer Funds from an FSA to an HSA?

In recent years, our household has shifted from one employer’s high deductible health plan (HDHP) paired with a health savings account (HSA), to another employer’s PPO plan, which is sadly not compatible with an HSA. Having socked away the maximum HSA contribution for a number of years previously, we’ve simply been withdrawing funds from that old HSA to pay for current qualified medical expenses not covered by the PPO plan.

Now that we’ve had a few years under our belts with the new PPO plan and have a multi-year history of out of pocket expenses, we’ve re-evaluated that strategy and have decided to add a new flexible spending account (FSA) into the mix in order to stop depleting funds from our HSA and get the benefits of additional new untaxed funds for health care expenses. While crunching the numbers to decide how much to contribute annually to the FSA during open enrollment, I was facing the typical FSA “use it or lose it” fears, and an opportunistic question…

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This article was written by G.E. Miller and originally published on 20somethingfinance.com