What Happens to My HSA When I Leave My Job?

When you leave your job, your Health Savings Account (HSA) does not disappear. It is still yours to keep and use for eligible medical expenses.

Here's what happens to your HSA when you leave your job:

• Ownership: Your HSA belongs to you, not your employer. You can continue to use it even after leaving your job.
• Contributions: You can no longer contribute to your HSA through payroll deductions once you leave, but you can still make contributions on your own.
• Withdrawals: You can withdraw funds from your HSA at any time for qualified medical expenses, even if you are no longer employed by the same company.
• COBRA: If you enroll in COBRA after leaving your job, you can use your HSA funds to pay for eligible health care premiums.
• Investment Options: You can choose to invest your HSA funds for potential growth, even if you are no longer with your employer.
• Transfer: You can transfer your HSA to a new custodian without tax penalties or consequences.

When you leave your job, your Health Savings Account (HSA) remains intact and is still under your ownership. This means you can continue using your funds for qualified medical expenses as you see fit.