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Showing content with the highest reputation on 06/06/2019 in Posts
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Forget about the court order and enrollment timing for a moment. Is the employee eligible to enroll the children under the plan and has the employee requested enrollment? QMCSOs and other orders are usually a bypass of the deadbeat employee. If the employee is requesting the coverage, those direct legal compulsions may be superfluous. There may be a role for them as an exception to the plan’s rules relating to timing of enrollment.1 point
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This is something to speak with counsel about. In general, I would hesitate in not complying with an executed court order, particularly this one if it has all the information required for the children to be enrolled.1 point
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Participant doesn't want to lose Medicaid benefits, plan is Safe Harbor
rr_sphr reacted to david rigby for a topic
No Medicaid expert, but I thought eligibility is related to income ("modified adjusted gross income"). Are you (or the employee or the employee's guardian) sure that eligibility can be affected by assets in a qualified plan? Edit 01/13/2020: I learned that yes the eligibility can be affected by assets in a qualified plan.1 point -
Even if you can come up with an exclusion that only keeps him out, and doesn't exclude anyone else who should otherwise benefit and will now get shafted, is there any possibility that such a move will trigger some Medicare fraud thing, or violate the ADA, or something crazy like that? I have no idea whatsoever - I just wondered... What an unfortunate situation. Keep us posted if you can find a way around it.1 point
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No you misunderstand I was thinking of him taking a hardship to reduce his plan balance under $2,000 to keep medicaid and using that to pay medical bills which he probably has at least a few not fully covered by medicaid. No?1 point
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FYI Hardship does not mean that you do not pay taxes or penalties. A lot of folks seem to think taht Hardship means it is exempt, but really its purpose is to allow current employees a means of accessing 401k funds while employed.1 point
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If you rolled over the balance from your old 401(k) to an IRA at Wealthfront, you'll need to contact Wealthfront about taking a distribution from it. I'm not sure what you mean by "deducted the full balance."1 point
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401k Medical Hardship Reimbursement
rr_sphr reacted to ratherbereading for a topic
I'm not sure what your former employer's legal plan document says, but I work for a TPA and all our documents don't allow hardship withdrawals by former employees.1 point
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