Do I Keep My HSA If I Leave a Job?

One common question that arises when leaving a job is whether you get to keep your HSA or Health Savings Account. The answer often depends on various factors and understanding your options is crucial to manage your savings effectively.

While HSAs are a valuable tool for saving money for medical expenses, they are tied to your employment status. Here's what you need to know:

• If you leave your job, you do get to keep your HSA account.
• Even though you can keep the account, there might be limitations on contributing to it.
• If you are no longer enrolled in a high-deductible health plan (HDHP), you can't make new contributions to your HSA.
• You can still use the existing funds in your HSA for eligible medical expenses.
• Consider other options like transferring your HSA to a new provider or keeping the account for future medical needs.

It's essential to understand the implications of leaving a job on your HSA and make informed decisions to maximize your healthcare savings.

When you leave your job, one of the pressing concerns is whether your Health Savings Account (HSA) is still yours. The good news is, even though your HSA is linked with your employment, you are allowed to keep the account even if you no longer work there.