Does Your HSA Go With You When You Change Jobs?

Changing jobs can bring about various changes, including your healthcare savings accounts like the HSA. If you're wondering about what happens to your HSA when you switch jobs, the good news is that your HSA does indeed go with you.

When changing jobs, here's what you need to know about your HSA:

• Your HSA belongs to you, not your employer. It is a personal savings account, so the funds in your HSA are yours to keep.
• You can continue to use the funds in your HSA for qualified medical expenses even after changing jobs.
• You can still make contributions to your HSA from your new employer or on your own, as long as you are covered by a high-deductible health plan (HDHP).
• If you no longer have an HDHP with your new employer, you can still use the funds in your HSA for medical expenses, but you cannot make further contributions until you are covered by an HDHP again.

So, rest assured that your HSA is portable and will stay with you no matter where your career takes you.

When you change jobs, it's natural to be concerned about your Health Savings Account (HSA). The truth is, your HSA is yours and is completely portable, meaning it goes wherever your career leads you.

Here’s a closer look at your HSA during a job transition:

• Your HSA is a personal asset, distinct from your employer, which means the funds remain under your control.
• Regardless of job changes, you can use your HSA funds for eligible medical expenses. This gives you peace of mind as you move forward.
• Planning to contribute further? You can still deposit money into your HSA through employer involvement or independently, provided you have a high-deductible health plan (HDHP).
• If you switch to a job without an HDHP, don't worry! Your HSA remains accessible for medical expenditures, although contributions will pause until you obtain HDHP coverage again.

Your HSA is designed for portability, allowing you to maintain control and access as you navigate your career!