This article provides an overview of the impact to your Health Savings Account “HSA” upon termination of employment. It is not a comprehensive reference and should be reviewed in conjunction with your employer’s benefit materials and plan documents. In the event of any conflict between the official benefit plan documents, benefit contracts, and this document, official information will govern. Benefit terms and conditions are subject to change.
Since your HSA is owned by you and not your employer, your HSA remains available to you even after termination. This means that you can continue to use your HSA for qualified expenses even after your termination. Your ability to continue contributing to your HSA will be dependent on whether you choose to enroll in an HSA qualified health insurance plan either through your new employer or through an individual policy.
Termination of Employment
- Upon termination of employment your HSA will be separated from your employer’s sponsored HSA plan. This will require you to create a new online username and password.
- All future salary redirections will end.
- Future contributions can be made to your HSA outside of payroll by selecting the “Fund My HSA” option which allows you to transfer funds from your personal bank account into the HSA. These contributions are also tax deductible.
- Any admin fees previously covered by your employer will be withdrawn directly from your HSA the 1st of each month.
- Your current NueSynergy HSA debit card will be turned off and a new one will automatically be issued to you at the physical address associated with your account.
- Please be sure to update the contact information associated with your account. Often times during open enrollment work email and phone are provided as a preferred method of contact.
- The account and routing number associated with your HSA will remain the same. If you have any questions please do not hesitate to contact your NueSynergy support team at 855-890-7239.