What Happens to My HSA If I Change Jobs?

If you have a Health Savings Account (HSA) and you're changing jobs, you might be wondering what will happen to your HSA. Don't worry, we've got you covered!

When you change jobs, here's what typically happens to your HSA:

• Your HSA is yours to keep - Unlike Flexible Spending Accounts (FSAs), HSAs are portable, meaning they belong to you and not your employer.
• You can continue using your HSA - You can keep using your HSA to pay for qualified medical expenses even after changing jobs.
• You can't contribute from your new job - If your new employer doesn't offer an HSA or you're not eligible to contribute, you won't be able to add new funds to your account.
• You have options for managing your HSA - You can leave your HSA where it is, roll it over to a new HSA provider, or even use it as a retirement savings vehicle.

Remember, it's important to understand how your new employer's benefits package impacts your HSA and to make informed decisions about your healthcare savings.

If you're switching jobs and have a Health Savings Account (HSA), you might have questions about what happens to your account. Fortunately, we've got the answers!

Your HSA is yours to keep, and it’s portable, meaning it follows you regardless of employment. This is one of the significant advantages of HSAs over other savings accounts.

Even after changing jobs, you have the freedom to utilize your HSA for qualified medical expenses without any interruptions.

However, if your new employer does not offer an HSA, or if you're not eligible to contribute, you'll find that you won't be able to add new funds from your paycheck.

Don't forget, you do have several options for managing your HSA: you can leave it where it is, roll it over to a new HSA provider, or use it as a long-term retirement savings option.

Understanding how your new workplace benefits align with your HSA is crucial for optimizing your healthcare savings and making informed financial choices.