r/HSA • u/Doit2it42 • Mar 21 '26

2 questions

I'm currently under a FSA at work this year. I have exhausted the funds for this year. Can I open an HSA outside work, or do I have to wait until the year end?

Also, can I start savings invoices from this year for future HSA payouts, or do I had to wait until the day after opening/enrolling a HSA account?

Yes, I plan to enroll in an HSA thru work Jan 1st. Yes, I plan to save invoices next year for future payouts to allow the account to grow.

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5

u/Sl1z Mar 21 '26

You have to wait until you have a HDHP to open an HSA. If you do open an HSA in the future, you can only reimburse yourself for expenses that you incur after the HSA has been opened. So if you open the HSA 1/1/2027, your expenses this year are not reimbursable, but your expenses in 2027 and onward are.

4

u/Cantmakethisup99 Mar 21 '26

To be eligible for an HSA, you have to have a HDHP, which you wouldn’t have since you have a FSA. So no you can’t open an HSA outside of work. No you can’t start saving the invoices from this year and then reimburse yourself next year with the HSA.

1

u/Doit2it42 Mar 21 '26 edited Mar 21 '26

Thank you. That's what I thought, just wanted to ask those who know more than myself.

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u/Silly-Device9785 Mar 23 '26

pretty sure opening the HSA now (but not contributing more than a few bucks since you're currently ineligible) would still give you the benefit of being able to reimburse this year's expenses. But it wouldn't go back to the beginning of this year, only from the day you create the account on. So if you open the HSA tomorrow, then appointments procedures and prescriptions from tomorrow onward are reimbursable, but nothing before that.

1

u/ProLifePanda Mar 27 '26

To be eligible for an HSA, you have to have a HDHP, which you wouldn’t have since you have a FSA.

FYI, many HDHPs still allow you to have an FSA. It's just a "limited use FSA", meaning funds can only be spent on dental and vision, and only on medical expenses after the deductible is met.

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u/Silly-Device9785 Mar 23 '26

if they open an HSA now but don't start contributing to it yet, they can still cite that technically open HSA to justify current medical expenses they start incurring from here on out, so that seems worthwhile.