What Happens to My HSA Funds After I Quit? - Answers and Guide

When you quit your job, you may be wondering what happens to your HSA funds. Health Savings Accounts (HSAs) are valuable assets that provide tax benefits and flexibility for healthcare expenses. Here's what you need to know about your HSA funds after you quit:

1. Ownership of HSA: Your HSA funds belong to you, regardless of your employment status. You can keep your HSA account open and continue using the funds for qualified medical expenses.

2. Portability: HSAs are portable, meaning you can take them with you when you leave your job. You can still use the funds for eligible healthcare expenses, even if you're no longer with the same employer.

3. Contributions: If your employer was contributing to your HSA, those contributions will stop once you quit. However, you can continue to make contributions on your own, up to the annual limits set by the IRS.

4. Unused Funds: Any funds remaining in your HSA stay in the account. There is no

When you leave a job, it's natural to wonder what will happen to your Health Savings Account (HSA) funds. Fortunately, HSAs are designed to benefit you even after you quit. Here’s a closer look at what awaits your HSA after you move on from your job:

1. **Ownership**: Your HSA is fully yours, so your funds remain accessible regardless of where you work. You can keep using the funds for qualified healthcare expenses without a hitch.

2. **Portability**: HSAs are incredibly portable, enabling you to take your account with you to your next position or even keep it if you decide to pursue self-employment.

3. **Continuing Contributions**: Remember that while your employer contributions will cease when you quit, you always have the option to contribute your own money to your HSA, adhering to the IRS limits.

4. **Fund Accessibility**: Any unused funds in your HSA remain yours to spend on eligible medical costs, and there’s no expiration date forcing you to use them quickly.