What Happens to My HSA Card if I Leave My Job?

Leaving a job can bring about several changes, including what happens to your Health Savings Account (HSA) card. When you leave your job, the fate of your HSA card depends on various factors:

1. If your HSA account is employer-sponsored, the card might be deactivated upon termination or you might be allowed to keep it.

2. If you're moving to a new job that also offers an HSA, you can typically transfer funds or roll over the HSA to the new employer's plan.

3. If you're unemployed, you can still use the remaining HSA funds for qualified medical expenses, but you won't be able to contribute more without an active income source.

4. If you decide to withdraw the money for non-qualified expenses, you'll face taxes and penalties.

When you decide to leave your job, understanding the status of your Health Savings Account (HSA) card is crucial. Depending on whether your HSA was sponsored by your employer, the card could be deactivated or you might have the option of retaining it along with the funds.