What Happens to Your Employer HSA When You Leave Your Employer?

When you leave your employer, your Health Savings Account (HSA) stays with you. An HSA is owned by you, not your employer, so you have control over the account even after you change jobs. However, there are certain things to keep in mind to manage your HSA effectively.

If you funded your HSA through payroll deductions, your contributions stop once you leave the employer. But you can continue using the funds in your HSA for qualified medical expenses, even if you are no longer with the same employer.

Here are some key points to remember about your HSA when you leave your employer:

• Your HSA funds are yours to keep and use for qualified medical expenses.
• You can no longer contribute to your HSA through your former employer once you leave.
• You can continue to invest and grow your HSA funds even after leaving the employer.
• Consider transferring your HSA to another provider if you want more investment options or lower fees.
• Remember to update your contact information to receive important notifications about your HSA.

When you decide to leave your employer, it's vital to know that your Health Savings Account (HSA) remains yours. Since the HSA is individually owned, you have complete control over the funds, even after parting ways with your company. Remember, contributing through payroll deductions will cease, but the funds you've accumulated can still support qualified medical expenses.