If Paul changes jobs, what happens to his health savings account (HSA)?

When Paul changes jobs, his health savings account (HSA) goes with him. HSAs are individual accounts, meaning they are owned by the account holder rather than the employer. Regardless of job changes, the funds in Paul’s HSA are his to keep and can be used for qualified medical expenses. This portability feature is one of the key benefits of HSAs, allowing individuals to maintain their savings and investments as they transition between employment opportunities.

An important distinction to note is that while HSAs may be offered through employers, they do not belong to the employer; instead, they are tied directly to the individual. Thus, Paul retains full control over his HSA after leaving his job, and he can use the funds as needed or even contribute to it further if he remains eligible for HSA contributions.