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November 14, 2011

Reminder: Expiration of Permissible Rollovers from FSA or HRA to HSA

When the concept for health savings accounts was enacted in 2004, the law allowed, for a limited period of time, the ability to roll over account balances from flexible medical spending accounts or health reimbursement arrangements into health savings accounts, as long as certain conditions are met.  The ability to roll from these types of accounts expires December 31, 2011. 

Rollovers from an individual retirement account to a health savings account by way of a plan-to-plan transfer are not impacted and may continue.

 

The information contained in this Benefit Beat is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations.

As required by U.S. Treasury rules, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this Benefit Beat is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service.

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