What Happens to Your HSA When You Switch Companies

When you switch companies, your Health Savings Account (HSA) remains yours, and you can continue to use it for qualified medical expenses. However, there are a few things to consider to ensure a smooth transition:

1. Ownership: Your HSA belongs to you, so you don't lose it when changing jobs.

2. Access: You can still access your HSA funds and use them for eligible healthcare expenses.

3. Contributions: You can continue to contribute to your HSA, either on your own or through your new employer.

4. Investments: If your HSA offers investment options, you may need to review and adjust them after switching companies.

5. Transfer: You can transfer your HSA funds to a different HSA provider if needed to consolidate accounts or access better investment options.

6. Unused Funds: Any funds remaining in your HSA will stay with you and roll over year after year.

When you change jobs, your Health Savings Account (HSA) is portable, meaning it stays with you and remains fully accessible for qualified medical expenses.

1. Ownership: Remember, your HSA is yours. You're not at risk of losing it during a job change.

2. Access: You can still tap into your HSA funds for eligible healthcare costs, no matter where you work.

3. Contributions: After switching companies, you're free to continue contributing to your HSA, either by making personal deposits or through your new employer's plan.

4. Investments: If your HSA includes investment opportunities, it’s wise to take a moment to review your portfolio after changing jobs to ensure it aligns with your goals.

5. Transfer: You have the flexibility to transfer your HSA funds to another provider for better features or lower fees.

6. Unused Funds: Any balance in your HSA stays intact and rolls over annually, giving you a health savings cushion for the future.