Hey everyone and welcome to the money girl podcast. I'm Laura Adams. I'm an

author speaker and consumer advocate and I've been writing and hosting this show since 2008.

If you're a new listener just tuning in for the first time, I am really glad you're here.

And if you're a long timer, welcome back and thank you for being a part of this amazing community.

You guys send me really great questions and while I can't answer all of them personally or cover all of them on the show,

I do cover the ones that are popular or the ones that I think can help the most people.

And since staying healthy is so important right now, I have been getting a lot of questions about HSAs or health savings accounts.

And let me tell you, if you're not familiar with these accounts, you need to get up to speed on how they work, because they can cut your medical costs big time, and that means saving money.

But like most types of tax advantaged government sponsored accounts, they come with

rules and you got to follow those to qualify for all of the tax saving goodness. And the rules can definitely seem confusing at first.

But I promise that once you understand a few basic concepts,

they're really not that difficult to master.

And I do think that hearing answers to other

people's questions about financial issues and accounts is incredibly

valuable. So I'm going to kick off the show with a question from Jennifer R.

She says, hi Laura, first off, thank you for your podcast.

It's been very helpful as a young professional trying to make the most of my finances. I have an HSA from a job I had for

five years after graduate school with over a thousand dollars left in it. I'm healthy and rarely

used it and I even stopped contributing once it reached

$3,500. Then I moved several times and had two job changes. Now I have another

HSA at my new job and I already have a thousand dollar balance in that account.

Should I transfer the money from my old HSA to my new one and stop contributing once I max out the annual limit?

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