How to Roll Your HSA into a New Account

If you are looking to roll your HSA into a new account, it's important to follow the right steps to ensure a smooth transition without any penalties. Here is a detailed guide on how to roll your HSA into a new account:

1. Contact your current HSA provider to initiate the rollover process.
2. Choose a new HSA provider that suits your needs and open an account with them.
3. Fill out the rollover form provided by your new HSA provider.
4. Provide any necessary information, such as your HSA account number and the amount you wish to transfer.
5. Your current HSA provider will initiate the transfer process to move the funds to your new account.
6. Ensure the funds are transferred directly from one HSA to the other to avoid any tax implications.
7. Verify that the rollover is completed successfully and confirm the availability of funds in your new HSA account.
8. Keep records of the rollover for tax purposes and future reference.

Rolling over your HSA can be a great way to manage your funds better. Start by contacting your current HSA provider and let them know you'll be transferring your funds. Make sure to choose a new account that offers better rates or features to maximize your savings.