HSA Guide
What Happens to Employee Contributions to HSA When You Change Jobs?
Published July 5, 2024
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Get the appWhen changing jobs, the employee contributions to a Health Savings Account (HSA) remain the property of the employee; they are portable and can be taken along to the new job. Here's what happens to your HSA contributions:
Continued Ownership:
Your contributions to the HSA are yours to keep even when changing jobs.
Portability:
You can continue using the funds in your HSA for qualified medical expenses at any time, regardless of employment status or change of job.
Employer Contributions:
Employer contributions to the HSA may have different rules depending on the company policy. It's essential to review the plan documents to understand how employer contributions are affected.
Options:
- Leave the HSA funds invested and continue to grow tax-free.
- Rollover the HSA funds to a new employer's HSA account, if allowed by the new employer.
- Transfer the HSA funds to a personal HSA account.
Changing jobs should not impact the accessibility or ownership of your HSA funds as they belong to you, providing a valuable financial safety net for future medical expenses.
When you change jobs, your Health Savings Account (HSA) contributions do not vanish; they stay with you as they are yours to control and benefit from.