Disappearing Health Savings Account (HSA)

Post date: 2019-04-16 12:51:15
Views: 309
The company with whom I had my HSA apparently cashed it out and gave it to my ex-employer. Was this even legit? What do I do now?

I quit a hideously awful terrible no-good job recently. It was my understanding that I would still have the HSA account from that job.

Looking on the WageWorks site (with whom I had the HSA) I see this: "What happens to my HSA if I leave my job? This is one of the best things about an HSA: it's yours! Your HSA is yours and yours alone. It is yours to keep, even if you resign, are terminated, retire from, or change your job. You keep your HSA and all the money in it, but keep in mind that there may be nominal bank fees if you are no longer enrolled in your HSA through your employer."

Today I tried to log into my HSA account and found that my credentials no longer worked. I called WageWorks, and they said that the money in the HSA was cashed out and given to my employer March 16th (the day after my last day of work). They would give me no other details and told me to address my questions to my benefits department.

I was never given the money in the HSA (which was north of $700) nor notified by my employer that this had been done. I've emailed HR but I'd like to hear some feedback from a neutral party since I do not trust my ex-company or what HR might say about this.

My questions are:
1. Was it legit/legal for them to have done this?

2. What do I do if I don't get the money back from my former employer?

3. If I do get it back, what do I do with it then? Set up some independent HSA account?

4. How can I see the details of the contributions I made to the HSA in the 2018 tax year? I have a tax form that lists the deductions from the account, but no longer any way of confirming how much I contributed during 2018 (as separate from what my empoyer contributed, which I see on my W2). I did not receive paper statements and don't have access to online records anymore.

Thanks.
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