What to Do with Invested Funds in an HSA When You No Longer Have an HSA

When it comes to investing funds in your Health Savings Account (HSA), it's essential to know what to do with those funds if you no longer have an HSA. Once you no longer have an HSA, you have several options for the invested funds in your account:

• Use the funds for qualified medical expenses
• Keep the funds in the account for future qualified medical expenses
• Withdraw the funds for non-medical expenses (subject to taxes and penalties)
• Roll the funds over to an Individual Retirement Account (IRA) if you are eligible
• Transfer the funds to another HSA if you open a new one within 60 days

It's important to understand the implications of each option before making a decision. If you have any questions or concerns, consult with a financial advisor or tax professional to determine the best course of action.

When you find yourself in a position where you no longer have a Health Savings Account (HSA), it's crucial to be aware of your options regarding the invested funds. One option is to use these funds for qualified medical expenses, which remain a tax-free benefit.