Does an HSA Transfer to a New Employer?

One common concern when changing jobs is whether your Health Savings Account (HSA) can be transferred to a new employer. The good news is that HSAs are portable, meaning you can take them with you wherever you go. Here's what you need to know about transferring your HSA:

When you switch jobs, your HSA stays with you, not with your employer. This is because the HSA is owned by you, the account holder, and not by the company you work for. So, you don't have to worry about losing your HSA funds when changing employers.

However, there are a few things to keep in mind when transferring your HSA to a new employer:

• Make sure your new employer offers an HSA-qualified high-deductible health plan (HDHP) if you want to continue contributing to your HSA.
• Check if your new employer partners with a specific HSA provider. If not, you may need to transfer your HSA to a different provider.
• Consider any transfer fees or account closure fees that may apply when moving your HSA to a new provider.

When you switch jobs, your Health Savings Account (HSA) is still yours to keep. That means as you pursue new opportunities, your HSA remains intact. This portability allows you to take your savings with you without any hiccups.