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Old 06-21-2019, 12:24 PM
 
70 posts, read 13,276 times
Reputation: 81

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I have an HSA, but my employer refuses to give me my money at the moment, even though I have submitted the forms.

No reason, really, I personally think something is broken in their system, but the bottom line is, "Not today, try back next week."

For one or two weeks, fine. For three months?

No.

What are the questions I should ask? What are the legal obligations for the employer if any?

Many of you will say "lawyer" but I've worked here a lonnnnng time, so that's an uncomfortable bridge-too-far I don't want to cross just yet.

Is there a federal deadline on giving me my rightfully earned / paid-for HSA money?
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Old 06-21-2019, 12:34 PM
 
Location: Dallas TX
15,024 posts, read 21,723,664 times
Reputation: 22175
Is your HSA with a company? Or with your employer? Is this the first year you are having issues? I would be much more assertive and demand my money. If they aren't giving it to you, ask for specific reasons. Did you not submit correctly? Are you asking for reimbursement for something not covered? Is there a standard wait time?
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Old 06-21-2019, 12:34 PM
 
9,249 posts, read 11,806,344 times
Reputation: 14509
What does your HSA plan documents say about withdrawals?
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Old 06-21-2019, 01:11 PM
 
70 posts, read 13,276 times
Reputation: 81
Written policy is to submit receipt and get reimbursed. This plan is meant to (in effect) reduce my deductible to something less than the total amount I pay in each year.



It has always worked until now. This year, we switched 3rd party administrators. Everything at my end is totally correct, they've said as much. They just can't come up with the money, as the 3rd party is not quite organized yet.


To which I say, "Not my problem. The policy is - I give you the bill, you give me the cash."


Is there some timetable on this type of thing?
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Old 06-21-2019, 01:15 PM
 
Location: Aurora Denveralis
8,579 posts, read 3,010,942 times
Reputation: 12784
Employers can run HSAs any way the plan is defined, AFAIK.

Another reason why they're a lousy/overrated "replacement" for insurance coverage. Most people don't even benefit from the tax-free status.
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Old 06-21-2019, 01:17 PM
 
Location: OH>IL>CO>CT
5,226 posts, read 8,388,588 times
Reputation: 7180
How or why is your employer holding your HSA money ? HSA accounts should be held by the employee at a bank or other financial institution, under your control for non-taxable (or taxable) withdrawals.

See https://www.investopedia.com/terms/h/hsa.asp

"The HSA is usually paired with qualified HDHP and offered by a health insurance provider. An HSA can also be opened at a number of financial institutions."

"An HSA owned by an employee can be funded by the employee and/or his employer."

More details here https://www.investopedia.com/terms/h/hsa-custodian.asp
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Old 06-21-2019, 01:30 PM
 
70 posts, read 13,276 times
Reputation: 81
I think technically this is offered by a "health insurance provider" who is refusing to pay.


Not because they decline coverage - but because they are new to "the system" and simply can't make it work yet.


I don't debate that (in this case, at least) my overall balance sheet may not be worthwhile...but I'm not a young person, I tend to use the insurance at least once a year, so overall, the contribution I make has saved me money, not cost me extra.


The tax/pre-tax part has worked perfectly. So - this is not about the pros and cons of the plan.


It's about the obligation of my employer to give me the check, however which way it is handled.


So my question is - are there federal guidelines for this type of thing, as far a timely reimbursement is concerned? I mean, in theory - they have the money - I already gave it to them...right?
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Old 06-21-2019, 01:48 PM
 
9,249 posts, read 11,806,344 times
Reputation: 14509
Are you sure it's a Health Savings Account and not a Health Reimbursement Account? They are two completely different animals and providing you answer based on an HSA does nothing to answer the question if it's an HRA.
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Old 06-21-2019, 02:16 PM
 
70 posts, read 13,276 times
Reputation: 81
Hm! Good point! I gotta go with HRA, based on the conditions and verbiage. >>double checking<<


yes, my bad, it's an HRA - Reimbursement.
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Old 06-22-2019, 02:56 AM
 
Location: the Permian Basin
4,196 posts, read 3,080,649 times
Reputation: 5892
Quote:
Originally Posted by Quietude View Post
Most people don't even benefit from the tax-free status.

Most people don't benefit from tax-free savings?
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