Indiana Code — Title 6 (Taxation)
IC 6-8-11-22
Termination of employment
Sec. 22. 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.
As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.
Amendment history
As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.
Source: view the official text
Nearby sections (25 sections)
- 6-8-11-11 · Contributions by employee
- 6-8-11-11.5 · Withdrawal of money contributed after December 31, 2015
- 6-8-11-12 · Authorized account administrators
- 6-8-11-13 · Use of funds
- 6-8-11-14 · Prohibited use of funds
- 6-8-11-15 · Reimbursement
- 6-8-11-16 · Advancement of money
- 6-8-11-17 · Withdrawal of money for other purposes
- 6-8-11-18 · Written notice required
- 6-8-11-19 · Money exempt from execution
- 6-8-11-20 · Distribution upon death of employee with no covered
- 6-8-11-21 · Transfer of account
- 6-8-11-22 · Termination of employment
- 6-8-11-23 · Procedures for payment upon termination
- 6-8-11-24 · Distribution upon death of employee with dependents
- 6-8-11-25 · Rules
- 6-8-12-1 · "Eligible entity"
- 6-8-12-2 · "Eligible event"
- 6-8-12-3 · Tax exemption; exceptions
- 6-8-12-4 · Marion County admissions tax not applicable
- 6-8-12-5 · Findings
- 6-8-13-1 · "Department"
- 6-8-13-2 · "Disaster emergency"
- 6-8-13-3 · "Disaster period"
- 6-8-13-4 · "Disaster emergency related work"