How do I get my money from a health saving account when changing jobs?

Question

How do I get my money from a health saving account when changing jobs?

Answer 1

You can't take it out - but you CAN submit expenses to be reimbursed by it.

Answer 2

Fill this list first and further directions will follow...

-Black ski mask

-Glock 9mm (Personal safety rubber replica preferred)

-Duct-tape

-Flare gun

-Pepper Spray

-Flat black spray paint (for the cameras)

-Getaway driver

Once you have this list post again and I will return with more information.

Oh this is an account at a non-traditional bank...  hmm I think you can just do a balance transfer.

Answer 3

If the HSA account is truly a Health Savings Account you can take the money out at any time without penalty for qualified medical expenses. If you take the money out for non qualified expenses you will owe taxes and a 10% penalty. Even if you change jobs you can keep the HSA and spend the money as future expenses come up. If you no longer have a qualified high deductible health plan you can no longer deposit money into the HSA.

On the other hand if you are referring to an FSA which is a Flexible Savings Account you have until the end of the plan year to request funds for qualified expenses even if you are no longer employed by the plan sponsor.