What to Do with HSA After I Leave a Job?

When you leave a job, you may wonder what will happen to your Health Savings Account (HSA). It's crucial to understand your options to make the most of your HSA funds. Here's what you need to know:

If you leave a job, your HSA is yours to keep. You can continue to use the funds for qualified medical expenses, even if you no longer have the high-deductible health plan (HDHP) that is required to contribute to an HSA.

Here are some steps you can take with your HSA after leaving a job:

• Keep the HSA and use it for qualified medical expenses
• Roll over the HSA to a new employer's plan, if they offer an HSA option
• Transfer the HSA to a different HSA provider of your choice
• Invest the HSA funds for potential growth
• Be aware of any fees associated with the HSA

Before deciding what to do with your HSA, consider your current healthcare needs, your future plans, and the fees involved. Make sure to keep all receipts for qualified medical expenses, as you may need them for tax purposes.

Wondering what happens to your Health Savings Account (HSA) when you leave a job? You're not alone! It’s essential to know that your HSA remains your property, and you have various ways to manage it to maximize your savings for future healthcare costs.