A Guide to Quitting Your Job

A Guide to Quitting Your Job

“The account would stay put, and could still be used to reimburse or pay for qualified medical expenses,” said Frank Fiorille, vice president of risk, compliance and data analytics 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 off you have not yet used and may be owed, and whether it can still be used or paid out; that could help cushion your job search fund, if you’re creating one. Also be sure you know when other perks, including bonuses, may be paid out or become available, such as soon-to-be-vested stock options.

If you’re holding any stock options that allow you to buy shares at a discount, find out how long you have to cash them in after you leave, Ms. Rotter said, adding that it’s commonly three months from your last day. For any options that aren’t vested, however, you’ll probably be leaving money on the table.

If you’ve been putting off appointments, it may make sense to book them before you start over with a new deductible and possibly a new provider network. The next order of business is to find out when your coverage ends: It could be cut off on your last day, for example, or it may last for the rest of the month.

Then, review your options carefully. “Everyone needs their health coverage right now, more than ever,” said Karen Pollitz, a senior fellow at the Kaiser Family Foundation.

If you don’t expect to have employer-provided coverage for a while (or you’re going to be your own boss), there are a few possibilities. COBRA — a continuation of your employer’s plan, usually for up to 18 months — is costly because you’ll generally be picking up your employer’s share of the premium.

If you’re married or have a partner with access to an employer-provided plan, your loss of coverage generally should entitle you to a special enrollment period for your partner’s plan — whether your quitting ends coverage for one or both of you.

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