How to Roll Over HSA to a New HSA

When changing jobs or insurance plans, you may need to roll over your HSA to a new one. This process can be straightforward if you follow a few simple steps.

Firstly, ensure that your new HSA is eligible for rollovers; not all HSAs accept transfers. Once confirmed, follow these steps:

1. Contact your current HSA provider and request a rollover form.
2. Fill out the form, typically requiring details of your new HSA provider.
3. Submit the form to your current HSA provider, ensuring all information is accurate.
4. Once processed, the funds will be transferred to your new HSA.

It's essential to note that rollovers must be completed within 60 days to avoid tax penalties. Additionally, you can only rollover your HSA once per year.

Rolling over your HSA (Health Savings Account) to a new plan can feel daunting, but with these straightforward steps, you can make the transition seamless. It's important to first check if your new HSA is capable of accepting rolled-over funds, as not all HSA providers will do so. Start the process by contacting your current provider to request the necessary rollover paperwork.

1. Reach out to your existing HSA provider and ask for the rollover form to initiate the transfer.
2. Carefully fill in the required details about your new HSA provider, ensuring all information is accurate to avoid delays.
3. Submit the completed form back to your current HSA provider, keeping a copy for your records.
4. After they process your request, the funds will be sent to your new HSA without any hassles.

Remember, you must complete the rollover within 60 days of receiving your funds to avoid any tax implications, and keep in mind that you can only perform one rollover per year. This process helps you maintain the tax advantages of your HSA while ensuring access to your healthcare savings when you need them the most.