HSA Escheatment

Posted By: ComplianceGurl, CRCM

HSA Escheatment - 04/05/11 07:29 PM

Can Health Savings Accounts be escheated? I checked our states Manual for Reporting Unclaimed property but it was not clear.
Thank you!
Posted By: BrendaC

Re: HSA Escheatment - 04/05/11 07:57 PM

If you have lost contact with your customer, you have to escheat the funds at the appropriate time as required by state statutes. I would treat the account the same as an IRA.
Posted By: ComplianceGurl, CRCM

Re: HSA Escheatment - 04/05/11 07:59 PM

Thank you Brenda!