What Happens to HSA When You Leave Your Job?

When you leave your job, it's natural to have concerns about what happens to your Health Savings Account (HSA). An HSA is a valuable savings tool for healthcare expenses, so understanding its fate post-employment is crucial.

So, what exactly happens to your HSA when you leave your job?

When you leave your job, the HSA remains yours. It is a portable account, meaning you can take it with you wherever you go. Here are a few scenarios on what you can do with your HSA:

• You can continue using the funds in your HSA for qualified medical expenses.
• You can no longer contribute to the HSA if you're no longer enrolled in a high-deductible health plan (HDHP).
• If you start a new job with an employer offering an HSA-compatible HDHP, you can continue contributing to the same HSA or open a new one.

It's essential to make informed decisions about your HSA after leaving your job to maximize its benefits. Consult with a financial advisor to explore your options and ensure you make the most of your HSA.

When it comes to your Health Savings Account (HSA), leaving your job might raise some questions about its future. Thankfully, your HSA is not tied to your employer; it belongs to you. This means you can continue to benefit from it after you leave your position.