Key year-end considerations for your FSAs and HSAs

November 12, 2021

​What to consider, look for, and plan on when it comes to tax-advantaged accounts now — to confidently finish this year, and be prepared for 2022.

With so much happening at the end of this year, keep in mind you may want to take action on some important considerations for your flexible spending account (FSA) or health savings account (HSA) — now and going into next year.


Consider how you're using your HSA. One of the major benefits of an HSA is that you can use it for eligible healthcare expenses you have now, or later (even in retirement). There are no rollover limits, and no limit on how large your account balance can be. Knowing that, you may want to think about how your HSA can become a tool in your annual budget and long-term financial planning. Find out more here.

You can make one-time or recurring contributions to your HSA. Have some unplanned expenses? Or thinking long term? Even if you contribute through pay deductions already, making a separate one-time or recurring contribution into your HSA account is possible at any time (provided you don't exceed the contribution limit). And these contributions have virtually the same benefits as those that come from your pay deductions — because the contributions are tax-deductible when you file your taxes for that year. Find out more here.

Your HSA can be an investment. While it's not required, and you may want to seek the advice of a financial adviser before you make any decisions about investment, there are investment options available if your HSA balance is above $1,000. Find out more here.


Your end-of-year 2021 balance will roll over into 2022 — but that flexibility isn't expected for 2023. So while you don't need to spend down your account at the end of this year, you should start to think about how you'll use your funds in 2022 now. While it is still expected that some FSA funds will be able to roll-over into 2023, you may want to consider that it may be closer to pre-pandemic rollover levels. Find out more here.

Remember, there are more ways to use your FSA. The IRS added personal protective equipment (PPE), such as masks, hand sanitizer, and sanitizing wipes to the list of eligible expenses for healthcare FSAs and HSAs if purchased for the primary purpose of preventing the spread of COVID-19, for the personal use of you and your family. This applies to expenses dating back to January 1, 2020. Find out more here.

You have more time to file claims for 2020 expenses. The Department of Labor (DOL) released guidance that generally extended the deadline for when 2020 FSA claims need to be filed. Claims that previously needed to be filed by March 31, 2021, now must be filed by March 31, 2022. Find out more here.

Questions? Call the Further by HealthEquity customer service team at 651-662-5065 or 800-859-2144 from 7 a.m. to 8 p.m. CT, Monday through Friday. Information is also available at