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Guide to Quitting

Dependent care accounts are different: Employees can only be reimbursed for expenses up to the amount deducted from their paycheck.

Health savings account, often used in conjunction with high-deductible, no-use-or-lose health plans. That money is yours to keep even if you don’t spend it; The account is not tied to the employer.

“The account will remain in place and can still be used to reimburse or pay for qualified medical expenses,” said Frank Fiorille, vice president of data analytics, compliance and risk at Paychex. But you can’t make new contributions, unless you open a new high-deductible plan elsewhere.

Check to see how much vacation or other paid time you have unused and possibly owed, and whether it can still be used or paid off; that can help support your job search fund, if you’re creating one. Also, make sure you know when other perks, including bonuses, may be paid out or become available, such as stock options, that are about to be granted.

If you’re holding any stock options that allow you to buy shares at a discount, find out how long you have to pay them off after you leave, Ms. Rotter said, adding that it’s usually three months from your last date. However, for any option not offered, you will probably leave money on the table.

If you’ve postponed appointments, it’s a good idea to book them in advance before starting over with a new deductible and possibly a new network of providers. The next business sequence is to find out when your coverage ends: It could be cut off on your last day, for example, or it could last through the end of the month.

Then consider your options carefully. “Everyone needs their health insurance now, more than ever,” says Karen Pollitz, a senior fellow at the Kaiser Family Foundation.

https://www.nytimes.com/2022/01/19/your-money/quitting-your-job-guide.html Guide to Quitting

Fry Electronics Team

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