Can You Keep Your HSA if You Change Jobs?

One common concern for individuals with a Health Savings Account (HSA) is whether they can keep it if they change jobs. The good news is that yes, you can keep your HSA when you change jobs. Your HSA is owned by you, not your employer, so it goes with you wherever you go.

Here are some key points to consider about keeping your HSA when changing jobs:

• Your HSA is portable, meaning it stays with you regardless of employment changes.
• You can continue to use the funds in your HSA for qualified medical expenses, even if you switch to a new employer or become self-employed.
• If you have an HSA-eligible high deductible health plan (HDHP) with your new employer, you can continue to contribute to your HSA.
• If your new employer does not offer an HSA-eligible HDHP, you can still keep your existing HSA and use the funds for eligible expenses.
• Remember to update your contribution amounts if your new employer offers different HSA contribution limits.

Overall, having an HSA provides flexibility and control over your healthcare funds, allowing you to save for future medical expenses and continue utilizing the account even when changing jobs.

When it comes to your Health Savings Account (HSA), switching jobs doesn't mean you have to leave it behind. In fact, you can bring your HSA along on your career journey. Remember, your HSA belongs to you and is not tied to any employer, which means it’s portable and keeps working for you.