What Happens to My HSA If I Leave the Company?

Leaving a company can bring about many changes, one of which includes the fate of your Health Savings Account (HSA). If you find yourself in this situation, it's important to understand what happens to your HSA to make informed decisions about your healthcare savings.

When you leave your job, your HSA stays with you. It is your personal account, and you have full control over it. Here are a few key points to consider:

• You can continue to use the funds in your HSA for qualified medical expenses, even after leaving the company.
• If you join a new employer who offers an HSA-eligible health plan, you can keep contributing to your existing HSA or open a new one.
• If you do not have an HSA-eligible health plan with your new employer, you can still use the funds in your HSA for qualified medical expenses tax-free.
• You cannot contribute to your HSA with pre-tax dollars if you are not enrolled in an HSA-eligible health plan.

It's crucial to keep track of your HSA balance and expenses, especially during the transition period between jobs. Ensuring that you are using the funds for qualified medical expenses will help you maximize the benefits of your HSA.

If you decide to leave your company, it’s comforting to know that your Health Savings Account (HSA) is yours to keep. Unlike some benefits that vanish upon leaving, your HSA remains intact, allowing you to control your healthcare savings no matter where you work next. Don't fret about your funds – they’re still yours!