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posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date.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 www.healthsavingsaccount-hsa.com.
Summary
More resources:
www.healthsavingsaccount-hsa.com
FreedomBenefits.net