Ohio § 3924.68

§ 3924.68.

(A) If an account holder, whose medical savings account has been opened by the account

holder's employer, later ceases to be employed by that employer, the account holder

may, within sixty days of the account holder's final date of employment, request in

writing to the administrator of the account that the administrator continue to administer

the account. (1) If the administrator agrees to continue to administer the account, funds in the account

may continue to be used to pay the eligible medical expenses of the account holder

and the account holder's spouse and dependents, pursuant to sections 3924.61 to 3924.74 of the Revised Code . If the account holder later becomes employed by a new employer that opens a new medical

savings account on the account holder's behalf, the account holder may transfer any

funds remaining in the account opened by the account holder's former employer to the

account opened by the account holder's new employer.  For purposes of determining taxes due under Chapter 5747. of the Revised Code, this

transfer of funds shall not be considered a withdrawal of funds from a medical savings

account, nor shall it be considered a deposit to a medical savings account. (2) If the administrator does not agree to continue to administer the account, or if

the account holder requests that the account be closed, the administrator shall close

the account and mail a check or other negotiable instrument in the amount of the account

balance as of that date to the account holder.  The amount distributed shall be included in the account holder's Ohio adjusted gross

income in determining taxes due under Chapter 5747. of the Revised Code. (B) Within sixty days of the account holder's final date of employment, the account holder

may transfer any funds remaining in the account opened by the account holder's former

employer to another medical savings account owned by the account holder.  For purposes of determining taxes due under Chapter 5747. of the Revised Code, this

transfer of funds shall not be considered a withdrawal of funds from a medical savings

account, nor shall it be considered a deposit to a medical savings account. (C) An administrator of an account opened by an employer shall not close an account without

the permission of the account holder until at least sixty-one days after the account

holder's final date of employment.  The employer shall notify the administrator of the employee's final date of employment.