Can I Keep My HSA If I Don't Have a HDHP? - Understanding HSA Rules

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. However, one common question that arises is whether you can keep your HSA if you don't have a High Deductible Health Plan (HDHP).

So, can you keep your HSA even without an HDHP? The simple answer is yes, you can keep your HSA even if you don't have an HDHP. Here's what you need to know:

• Having an HDHP is a requirement to contribute to an HSA, but once you have funds in your HSA, you can keep the account even if you switch to a different type of health insurance plan.
• However, if you no longer have an HDHP, you cannot continue contributing to your HSA until you have an HDHP again.
• You can still use the funds in your HSA for qualified medical expenses, regardless of your current health insurance plan.
• It's important to understand the rules and regulations regarding HSAs to make the most of this savings tool.

Ultimately, keeping your HSA without an HDHP is possible, but there are restrictions on future contributions. Make sure to stay informed and utilize your HSA wisely.

Yes, you can keep your Health Savings Account (HSA) even if you are no longer enrolled in a High Deductible Health Plan (HDHP). While you won't be able to make new contributions until you regain HDHP coverage, your existing funds remain safe and can still be used for qualified medical expenses.