My new employer does not offer an HDHP, so no more HSA for me. My previous employer offered both, but we were required to keep the HSA in a checking account at a bank that earns basically no interest. I believe that I am still allowed to use my HSA funds for qualified medical expenses regardless of the fact that my new health plan leaves me ineligible to continue contributing, but my plan has always been to use my HSA as a retirement fund and pay medical expenses out of pocket (but save receipts just in case).
My HSA only grew to the meager sum of $1000 before I left, and it has been sitting idle ever since. It doesn't make sense for me to leave it to stagnate in its current disappointing checking account. Should I move it somewhere that it can grow tax-free? Pay taxes and invest it? Save it for a future health plan that might allow me to contribute more? Any HSA hacks or advice would be appreciated.
