HSA Savings

Money the company contributed on your behalf, sure I could see that. But the money deducted from your paycheck is still yours.

That said, they won't just cut you a check nor should you want them to. You can keep using the account for qualified medical expenses just like always, it's just that it won't be getting any contributions.

My company deposits our entire deductable January 1st, but if you leave throughout the year I think they prorate you.

For personal contributions, no way. And they shouldn't close her account either.

quote:

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This has happened to my wife. It's only a few hundred bucks but there was no employment contributions, only her payroll deductions. They are telling her the account is closed. What recourse do we have?

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Either you are mistaken about it being an actual payroll deduction or something ain't right. If she paid for it, it's hers. If the company kicked it in as an extra instead, it may not be unless she is past a vesting period.

Call them up and ask. The HSA account people, not the employer.

If she had $ in an HSA, and someone took $ from her HSA without her consent, they broke the law. Call the employer, they may not understand the law, but their broker will instruct them to unbreak the law

The use it or lose it sounds like the FSA account that goes with the high cost low deductible plans.

You get the HSA with the lower cost high deductible plans.

You are correct. I had an FSA for out of pocket medical expenses and one for child care. If I didn't have the expenses to submit for reimbursement, I would forfeit the balance.

I still have my HSA from my old job 2 years ago.

I now have the low deductible plan with the new job and I still have my old HSA. I can no longer contribute to it but I still use it for dr visits.