What do I do with my HSA and 401(k) when I leave my employer?

What do I do with my HSA and 401(k) when I leave my employer?
0.0 0.0 0.0 0.0 0.0 0

#1

I am 31 years old and will be leaving my employer to take some time off for myself (4-6 weeks) and was wondering what I should do with my HSA and my 401k?

My HSA is with a bank that charges me $3.25 a month and my 401k is through my employer’s provider.

Is there an HSA account that I can switch over to that won’t charge me a monthly fee?


#2

For your HSA, look into a transfer to Health Equity. Here is the link: www.healthequity.com. I have had very good experience with using them and with no monthly fees.
There should be no urgency in removing your 401(k). You want to make sure it is fully funded before you take any action. Wait and see what the future holds. You may decide to leave it there, roll it to a new 401(k) when you start with a new company or perhaps rollover IRA. your decision should be based on the investment options, fees charged and tax consequences.
I would be happy to help further.
Susan L Easthope, CFP


#3

I agree with Susan Easthope that Health Equity is an excellent choice. I also have had excellent experience with this no-fee company.
R. Ruth Linden, Ph.D., President, Tree of Life Health Advocates, San Francisco, CA


#4

This thread has been closed. Have a financial question? Log in and ask our community!