Now that the IRS has provided additional guidance for when employers may recoup HSA contributions, you may want to consider updating your internal procedures for handling requests to recover contributions.
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Effective consumer education on the part of employers, employee benefit providers, and financial organizations can lead to a better overall understanding of HSAs and, ultimately, an increase in HSA assets.
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The 2018 IRS Form 1040 is noticeably different from previous years as a result of efforts to simplify tax filing. Just how different is it? Find out how reporting retirement savings-related information on Form 1040 has changed.
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The Link can make administering your retirement, education, and health savings plans easier and help you grow your business. Tour The Link to learn how to find what you need—and what you may have been missing.
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Is a family HSA allowed? Can a family HSA be changed to a single HSA? Can an HSA be moved to a spouse’s HSA? What happens to an HSA once the HSA owner is no longer eligible?
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A recently released IRS information letter provides more answers to the question of whether an employer can recover erroneous HSA contributions made on behalf of its employees.
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How can your HSA-eligible clients get the most from an HSA—even if they can’t contribute the most? By paying their HSA when they pay their medical bills. This can be an opportunity for your organization to drive HSA business.
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Is an HSA basically the same as an FSA? What are the advantages of contributing to either one? Can you contribute to both?
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Not all HSA owners use their HSAs in the same way. Find out why and how that can affect what your organization does to retain and grow your HSA business.
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Looking for another reason to promote the HSA as a key financial planning tool for a more secure retirement? Consider sharing with your clients how they may be able to use their HSA savings to pay for long-term care expenses.
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Can HSA debit cards be issued to individuals other than the HSA owner? Are there issues that financial organizations should be aware of when allowing authorized users?
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Research shows that HSAs will continue to see unprecedented growth, proving them to be a successful product offering for most financial organizations.
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HSAs and health FSAs are both used to save and pay for qualified medical expenses with the potential benefit of tax-free distributions. So how do they actually differ from each other?
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What is a qualified HSA funding distribution and how much can be distributed? Can a qualified HSA funding distribution help satisfy an RMD? What is a testing period?
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When it comes to your HSA business, be careful not to overlook your generation X clients, as most own an HSA. Knowing their generational traits may be helpful in marketing to this particular group of consumers.
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While a debit or credit card gives HSA owners easier access to their HSA funds, it can also put their HSA at risk for a prohibited transaction. Fortunately, there are simple ways to avoid this risk.
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What can be done when an IRA owner’s spouse and children are the primary beneficiaries of the IRA but the children want all of the IRA assets to go to the spouse? With an HSA, the assets are deemed distributed to a nonspouse beneficiary upon the HSA owner’s death, but can the nonspouse beneficiary still disclaim the assets he would receive as a beneficiary?
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What happens to an HSA when the owner passes away and the beneficiary is a not the spouse? Can someone besides an HSA owner have access to the HSA?
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