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I left the US recently with a few thousand in an HSA (a pre-tax account designated for healthcare expenses). I have no idea how I'm going to get that out of the
by petronio 8y ago
I left the US recently with a few thousand in an HSA (a pre-tax account designated for healthcare expenses). I have no idea how I'm going to get that out of there now.
- zrail 8y agoYou can keep it there and withdraw it after 65 penalty free (have to pay taxes like a traditional IRA) or you can pull it out now and pay taxes plus a 10% penalty.
- petronio 8y agoProbably better to withdraw and eat the penalty then, inflation will make it worth peanuts by the time I'm 65.
- pnutjam 8y agoIf it's over a certain amount you can treat it like an IRA, otherwise you should get regular savings account interest, yeah.. I'm laughing too.
- zrail 8y agoFidelity has an HSA with zero fees that lets you invest just like an IRA. I don’t know if you can open one without being a US resident, however.
- ctchocula 8y agoYou can invest it in US or international mutual funds that historically have beaten inflation by 7%.
- b_t_s 8y agoyou can just withdraw it. Their website should have a way to do a bank transfer or write you a check. You will owe taxes, but if you're never coming back to the US, then whatever. If you're coming back, then you can generally invest your HSA in a mutual fund(most have some limited investment options accessible via their website) and then your HSA basically turns into an IRA retirement fund at age 65.