What Happens to Your HSA if You Change Jobs?

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What stays the same when switching jobs

Changing jobs can be an exciting but also stressful time in your life. As you navigate through this transition, it's important to understand what happens to your Health Savings Account (HSA) when you switch employers.

When you change jobs, your HSA is still yours to keep and take with you. Here's what you need to know:

When you transition to a new job, it’s crucial to know that your Health Savings Account (HSA) remains intact and is solely under your control. The funds you’ve diligently saved for healthcare expenses are yours to use, even if you’re no longer with your previous employer.

Options for using and moving HSA funds

• Your HSA is portable, meaning it belongs to you, not your employer. You can continue using the funds for eligible medical expenses even after leaving your current job.
• If your new employer offers a High Deductible Health Plan (HDHP), you can continue contributing to your HSA with pre-tax dollars.
• You can also choose to roll over your HSA funds into a new HSA account with your new employer or a different provider without incurring any tax penalties.

It's essential to consider these options and make informed decisions about your HSA when changing jobs to maximize the benefits of your account.