Do You Still Have Your HSA If You Quit Your Job?

Having a Health Savings Account (HSA) is a great way to save for medical expenses while enjoying tax benefits. One common question that arises is, 'Do you still have your HSA if you quit your job?' The answer is yes, you get to keep your HSA even if you leave your job.

Here are some important points to note:

• HSAs are owned by the individual, not the employer. This means the account stays with you regardless of your employment status.
• You can continue to use the funds in your HSA for qualified medical expenses even after leaving your job.
• If you switch to a new job that offers a different type of health plan, you can still keep and use your existing HSA.
• However, you may not be able to contribute to your HSA if you are no longer covered by a High Deductible Health Plan (HDHP) as per IRS rules.
• If you have funds remaining in your HSA, they will continue to roll over year after year with no expiration date.

So, rest assured that your HSA is portable and will stay with you through job changes or retirement. It's a valuable financial tool for managing your healthcare costs effectively.

Yes, you absolutely retain your Health Savings Account (HSA) even after leaving your job. It's one of the key benefits of having an HSA.