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| *The Commerce Journal>>>Insurance |
What do you do with your HSA when you change jobs? |
I'm on the HSA medical insurance plan at my current employer, and have been contributing money every pay period. If I were to change employers, what would happen to my HSA money? I probrably won't be participating in new employers HSA plan, but if I did could I roll it over? If it is an Health Savings Account and not a Flexible Spending Account or a Health Reimbursement Account (sometimes these get mixed up) you can keep the account and the money in it. The account is in your name and the funds are yours. If you no longer have a qualified high deductible health plan you will not be able to contribute to the HSA but you will be able to spend the money on qualified expenses. if your company offers the same plan you can if not talk to the agent and see if you can keep it and you put into it each month don't lose it if you do invest else were |
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