§ 6-8-11-22 — Termination of employment

Indiana § 6-8-11-22

• Jurisdiction: Indiana
• Art. 8: MISCELLANEOUS
• Ch. 11: Employee Medical Care Savings Account Plans

Text

If the employment of an individual by an
employer that participates in a medical care savings account program
is terminated, the money in the individual's medical care savings
account may continue to be used for the benefit of the individual and
the individual's dependents and remains exempt from taxation as
provided under this chapter if, not more than sixty (60) days after the
individual's final day of employment:
(1) the individual transfers the individual's medical care savings
account to a new account administrator; or
(2) the individual requests in writing that the former employer's
account administrator remain the administrator of the individual's
account, and the account administrator agrees to retain the
account.

Legislative History

As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.