Moving Health Savings Account (HSA) assets from one custodian to another is a common practice. This action allows individuals to potentially access different investment options, lower fees, or consolidate accounts for easier management. For example, an individual may choose to move funds from an HSA offered by a previous employer to one with a wider range of investment choices.
The ability to consolidate or relocate these assets offers several advantages. It can streamline financial management, potentially reduce administrative costs, and provide access to investment strategies that align better with individual financial goals. Historically, the portability of these funds has been a key feature of HSAs, promoting individual control and flexibility in healthcare savings.
