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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: update to friend upside down in everything||Date: 5/3/2013 9:23 PM|
|Author: joelcorley||Number: 306950 of 309051|
401kinvestor wrote, A question he did ask me which I could not answer is can a creditor go after his HSA savings account he has $500 in it?
To which you replied, Maybe, it depends on the state.
Apparently it also depends on whether the plan is employee-sponsored. Employee sponsored welfare plans tend to be covered under ERISA, same as a 401(k). This includes employee-sponsored HSAs. So if the HSA is with your employer, you likely have the same federal protections as your 401(k). If you had to go find your own HSA, you're dependent on the state. (I've had both.) BTW even if your state protects IRA assets, there's a good chance they don't protect HSA assets.
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