Can Medical Savings Accounts be rolled into a Health Savings Account?
Yes. MSAs can be rolled into HSAs on a tax-free basis, but it is not necessary. If, however, a client chooses to participate in the new HSA contributions limits and deductibles he/she must complete an HSA Adoption Agreement. Those clients choosing not to roll their MSA to an HSA at this time will receive information from from their plan administrator by the end of the first quarter of 2004 to facilitate a smooth migration from MSA to HSA.
Related Questions
- If an employee promises, in writing, not to submit any of her husbands medical expenses to a health FSA, does this make him eligible to contribute to a Health Savings Account?
- Can a Medical Savings Account he rolled into a Health Savings Account?
- Can Medical Savings Accounts be rolled into a Health Savings Account?
