What if I am no longer covered by an HSA-eligible annual deductible health plan?
If you are no longer covered by an HSA-eligible annual deductible health plan, you cannot continue to contribute; however, the money in your HSA is yours to keep at OptumHealth Bank or transfer to another qualifying account. If you choose to transfer your HSA to another qualifying account, you must do so within 60 days of withdrawing the funds from OptumHealth Bank to avoid taxes and an additional 10 percent penalty.
Related Questions
- What if I have contributed the maximum annual amount and am no longer covered by an HSA-eligible annual deductible health plan?
- What if I have contributed the maximum annual amount and am no longer covered by an HSA-eligible health plan?
- What if I am no longer covered by an HSA-eligible annual deductible health plan?
