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My HSA money was sent back to previous employer??


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I tried to use my HSA credit card and it was declined.  I logged into my HSA manager website only to see that >$5K had been transferred out of my account, reducing the balance to zero.  When I called them they said that it was a use it or lose it situation and they sent it back to my previous employer, company A.  I had worked for company A for a long time until April 2019 when my job was sold to company B and a new HSA was started.  I remember getting the option to transfer the old HSA to the new one but didn't see any point in that since I had a card for the original HSA and everything had always been fine.

I don't believe I received any notice about this and I thought that this was my money and they had no right to do anything with it not directed by me.  I've put in a call to company A HR but who knows how long that will take these days and I wanted to try and understand as much as I can about what has happened before I talk to them.  My HSA management company that did the transfer just says I have no balance so they can't help me.  I said they can't just give my money to whoever they want but apparently they can.

I just retired and was counting on that money for medical expenses and still can't understand how they can just give it back to my employer.  If anyone has any ideas how to determine if they did something wrong or were withing their rights I'd appreciate hearing about that.

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Sorry to hear about your situation.  I have never heard of such a situation.  The “use it or lose it” rule is applicable to a FSA, just want to confirm you are saying this happened to your HSA, correct?  I would continue by calling both HR departments and get clarification or more information.  By the way, your first HSA vendor should have the information in their records, ask to speak to a supervisor.  Also, you should have been provided with your own account, did you log in and review?

 

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  • 2 weeks later...

Just a follow up, the money had not gone back to my previous employer, the person giving me that information was wrong.  It had just transferred to a different management company and if the person I spoke to had just told me that it would have saved me a lot of anxiety.  All is good now.

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