Can I Take My HSA With Me When I Leave a Company?

When you leave a company, you may be wondering what happens to your Health Savings Account (HSA) and if you can take it with you. The good news is that HSAs are portable, which means you can keep your HSA and continue using it even after you leave your job.

Here are some important points to consider:

• When you leave a company, your HSA stays with you; it is not tied to your employer.
• You can continue to use the funds in your HSA for qualified medical expenses anytime, even if you change jobs or retire.
• If you are no longer eligible to contribute to an HSA due to changes in your health insurance coverage, you can still use the funds you have already saved in the account.
• You have the option to roll over your HSA balance to a new HSA provider of your choice, allowing you to maintain control over your account and investments.
• It's essential to keep track of any administrative fees or minimum balances required by your HSA provider when you switch jobs or transfer your HSA.
• Remember that any contributions made by your employer are yours to keep, even if you leave the company.

By understanding the portability of HSAs, you can make informed decisions about your healthcare savings and ensure that you continue to benefit from the advantages of an HSA even after leaving a company.

When you leave a company, it’s natural to question the fate of your Health Savings Account (HSA). Fortunately, HSAs are designed to be portable, ensuring you retain ownership and can use your HSA funds even after moving on from your job.