How to Move an HSA from One Employer to Another

Transferring your HSA from one employer to another is a common situation when changing jobs. It may seem like a daunting task, but with the right steps, it can be a smooth process.

Here are some steps to help you move your HSA:

1. Contact your current HSA provider: Notify them that you are changing employers and inquire about the options available for transferring your account.
2. Understand the transfer process: Learn about the transfer fees, forms required, and any specific instructions needed to move your HSA.
3. Choose a new HSA provider: Research and select a new HSA provider that aligns with your needs and offers the investment options you prefer.
4. Initiate the transfer: Complete the necessary paperwork provided by your new HSA provider and request the transfer of funds from your old account to the new one.
5. Verify the transfer: Confirm that the funds have been successfully transferred and are available in your new HSA account.

Transferring your HSA from one employer to another is a common situation when switching jobs, and while it might feel overwhelming, it can be quite simple if you follow a structured approach.

Here are some practical steps to successfully move your HSA:

1. Contact your current HSA provider: It's important to inform them about your job change and ask about the transfer options they offer.
2. Understand the transfer process: Make sure you're clear about any transfer fees and the paperwork needed to facilitate the movement of your HSA.
3. Choose a new HSA provider: Take the time to research various HSA providers and select one that fits your financial goals and desired features.
4. Initiate the transfer: Fill out the necessary forms from your new provider and request to transfer your funds from your old account.
5. Verify the transfer: After a few days, double-check to ensure that your funds are safely in your new HSA account.