If you are no longer covered under a high-deductible health plan, you might wonder about the impact on your HSA. We've got answers here.
Can I make contributions to my HSA?
No. To contribute to an HSA, you must be covered under an HSA-eligible HDHP on the first day of the month. Once that coverage ends, your contribution eligibility ends with it.
To calculate your contribution limit for the year in this situation, see Mid-year changes and your HSA contribution limit.
Can I use my HSA funds?
Yes! Eligibility to contribute and eligibility to use funds are separate. Even without HSA-qualified coverage, you can continue investing and paying for qualified medical expenses with funds already in your HSA. An HSA is a lifetime account. It stays available for your health expenses regardless of your current coverage status.