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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Wendy's health savings account

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.

Q: I am covered by Wendy's health plan. It has a balance in the account. Can I use that for something other than health costs when I change employers? When can I get the money?

A: Wendy's health plan converted to a health savings account in 2005 and the company reports that about 90% of the employees had balances in their account. The average account balance per employee is about $600. You can withdraw that money at any time for any purpose; it is not necessary to wait until you leave the company. But remember that there is a tax penalty for taking money for purposes other than medical expenses. If you do leave the company and want to keep your HSA money tax-free for now, roll the account over to a free or low cost HSA administrator. See details on how to do this at


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