What Happens to HSA Money if I Switch Health Plans?

Switching health plans may prompt questions about your Health Savings Account (HSA) funds. If you transition to a new health plan, your HSA money remains with you, as it is tied to you rather than your specific insurance provider. Here is what you need to know about your HSA funds when switching health plans:

When you switch health plans, the HSA itself does not change. It is portable, meaning you can keep and continue to use the funds for eligible medical expenses.

Even if you no longer have an HSA-eligible health plan, you can still utilize the existing funds in your HSA for qualified medical expenses. However, you cannot make new contributions to the HSA unless you are enrolled in a High Deductible Health Plan (HDHP).

When making the switch to a new health plan, many people wonder how their Health Savings Account (HSA) funds are affected. The good news is that your HSA money stays with you, no matter the health plan you choose. This means you can continue to utilize your HSA for a variety of qualified medical expenses – the money is yours to keep.