What to do if my employer has not opened an HSA account with the money I have had withdrawn from my paycheck?
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What to do if my employer has not opened an HSA account with the money I have had withdrawn from my paycheck?
It’s been 4 months; is that legal? I hounded HR for the longest time because I like to know where my money is, and have access to it in the event of an emergency (medically ofcourse). HR said he had to get the broker to get it done, but then finally one recent occasion he frankly told me they did not have the money to start it up. That is my money since it came from my paycheck, correct? Is there a grace period for the employer to deposit or even open an HSA account?
Asked on May 3, 2012 under Employment Labor Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Custom and practice is that before money is withdrawn from an employee's pay check re a HSA account by the employer, the employer already has such a program in effect.
If HR stated there was enough money to start up the program then your employer should return the money taken from your pay checks in that you should have use of the money and not the employer.
If your employer cannot open up the HSA account for whatever reasons then it cannot simply be opened. I suggest you sit down with HR and get to the bottom of the situation if there will be an HSA account opened up at work or not.
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