Financial organizations are responsible for paying out HSA assets to beneficiaries after an HSA owner’s death and properly reporting these distributions to the IRS, so your role as an HSA administrator is important. And because HSA beneficiary options differ from IRA and employer plan beneficiary options, it’s a good idea to familiarize yourself with the options and distribution process.
Read MoreSeveral bills with provisions that would alter tax-advantaged savings arrangements have been introduced. If these provisions are approved, they represent important priorities for the House and Senate lawmakers responsible for their drafting and introduction.
Read MoreAlthough your organization may not be equipped to provide individualized financial advice, you can share general information about the advantages and disadvantages of three common tax-advantaged savings accounts.
Read MoreCerulli Associates recently released a report entitled U.S. Retirement Markets 2020. This article focuses on selected IRA and HSA findings from this report.
Read MoreWhat 2021 will bring is yet to be determined. There is optimism, however, that one or more retirement or health savings-focused bills could be enacted in 2021. Several that were introduced during the past two years will likely be re-introduced in the 117th Congress.
Read MoreThe Consolidated Appropriations Act, 2021, was signed on December 27, 2020. Although there is no broad employee benefit relief, the Act contains some provisions—coronavirus- and non-coronavirus-related—that pertain to retirement and health savings plans.
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