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Health Savings Account Answer Book, Seventeenth Edition by William F. Sweetnam ECFC , Ellen M. Goodwin Groom Law Group, Chartered , Gary S. Lesser GSL Galactic Publishing, LLC , Christine L. Keller Groom Law Group, Chartered Health Savings Account Answer Book, Seventeenth Edition by William F. Sweetnam ECFC , Ellen M. Goodwin Groom Law Group, Chartered , Gary S. Lesser GSL Galactic Publishing, LLC , Christine L. Keller Groom Law Group, Chartered

Health Savings Account Answer Book, Seventeenth Edition

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Overview

Health Savings Account Answer Book, Seventeenth Edition, provides an up-to-the-minute tutorial on this emerging form of consumer-directed health plan. This publication will benefit a wide variety of professional markets, including pension consultants, plan sponsors, health and insurance agents, financial planners and investment advisers, plan administrators, attorneys, custodians, trustees, brokers, and accountants, as well as those institutions that promote, market, service, or provide technical support to health and/or retirement plans, products, and related services.

Health Savings Account Answer Book, Seventeenth Edition, is a decision-making tool. Its combination of theory and practice-based advice provides a clear course of action to increase the subscriber’s understanding of all aspects of the creation, administration, and operation of health savings accounts (HSAs), as mandated by the Internal Revenue Code (Code), Department of Treasury regulations, and Internal Revenue Service notices, procedures, and announcements.

Written by a team of practicing experts, preeminent in their fields, Health Savings Account Answer Book, Seventeenth Edition, provides step-by-step guidance on the creation, operation, and administration of HSAs. Topics covered include medical coverage and insurance; contributions and deductions; rollovers and transfers to HSAs; distributions, administration, and compliance estate and gift tax aspects; HSAs under a Code Section 125 cafeteria plan; prohibited transaction rules; coordination with flexible spending accounts (FSAs), Archer medical savings accounts (Archer MSAs), and health reimbursement arrangements (HRAs); spousal limits, family coverage, and embedded deductibles; and federal and state laws that affect HSAs.

Health Savings Account Answer Book, Seventeenth Edition includes:

List of Questions. The detailed List of Questions that follows the Contents helps the reader to locate areas of immediate interest. The List of Questions is similar to a detailed table of contents, providing the question number and the page on which the question appears. Within each chapter, section headings group and organize questions by topic.

Examples. Numerous examples and practice pointers are interspersed with textual discussion to illustrate important concepts.

Practice Pointers. These paragraphs offer tips and advice to practitioners in the effective design, implementation, and administration of employee benefit plans

Citations. Case citations and references to statutes and authorities are included to help readers who wish to research specific issues.

Appendices. Updated appendix material includes charts on state laws affecting HSAs, as well as coverage of pertinent legislation and regulation.

Abbreviations and Acronyms. A number of the terms and statutory references that appear repeatedly in this publication are referred to by their abbreviations and/or acronyms after the first mention.

Note: Online subscriptions are for three-month periods.

Previous Edition:  Health Savings Account Answer Book, Sixteenth Edition ISBN 9781543818505

Resources Table of Contents
Pages 806
Last Updated 06/07/2021
Update Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
ISBN 9781543836899
SKU 10045300-0006
Resources Table of Contents
Publish Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 000000000010048425
About The Experts
FAQ

Subscribers will find answers to commonly asked questions such as the following:

  • What is an HSA?
  • Who is eligible to establish an HSA?
  • What are the differences between an HSA, an HRA, and a health FSA?
  • Which federal government agencies regulate HSAs?
  • What state laws apply to HSAs?
  • How are deductions claimed? How are excludable contributions handled?
  • Do the prohibited transaction provisions of the Employee Retirement Income Security Act (ERISA) and/or Code Section 4975 apply to an HSA? Does the prohibited transaction penalty tax apply to an HSA?
  • What is a high deductible health plan (HDHP)? What is the HDHP requirement?
  • What are the exceptions to the rule requiring that the eligible individual not be covered under any other health plan?
  • What factors should an employer consider before offering an HSA with HDHP coverage? What factors should an individual consider before enrolling?
  • How does an HSA protect an owner in the event of catastrophic financial loss due to unforeseen illness or injury?
  • How are Medigap policies treated?
  • When are employer HSA contributions deductible, and when are they excluded from income?
  • Are employer contributions to an HSA eligible for the small business health insurance tax credit under the Patient Protection and Affordable Care Act?
  • Do debit cards used with HSAs that use an omnibus or a pooled account structure, with subaccounts to track individual cardholder funds, fit within the “prepaid card exemption”?
  • What are “comparable” employer contributions? What is the testing period used to determine “comparable” contributions?
  • Are HSA contributions made under a cafeteria plan subject to the comparability rules?
  • Will pre-tax contributions made through a cafeteria plan affect the amount of an employee’s ultimate Social Security benefit?
  • Do employer contributions count as fringe benefits under the Davis-Bacon Act?
  • How are contributions made by a Subchapter S corporation treated by the corporation and its shareholders?
  • What are the rules relating to rollovers and transfers? When can a trustee or custodian refuse to accept rollovers and transfers?
  • How is Form 8889—Health Savings Accounts (HSAs)—completed?
  • Is an HSA subject to Health Insurance Portability and Accountability Act privacy regulations? Would the electronic standards apply?
  • When is an HSA a security subject to regulation by the Securities and Exchange Commission?
  • When are HSA distributions subject to tax—and to penalty?
  • What are the special rules if one or both spouses have family coverage?
  • How is the maximum deductible computed when spouses have separate health plans?
  • What are the estate and gift tax aspects of an HSA of key interest to attorneys and CPAs?
  • Do community property rules affect the HSA contribution limitations?
  • What are the exceptions to the rule that requires that an employee not be covered under any other HDHP?
  • Are penalty payments or flat dollar charges for failure to obtain provider precertification counted toward the $7,000/$14,000 out-of-pocket limits for 2021?
  • How are Medicare-eligible individuals or those receiving Veteran Affairs benefits treated for contribution purposes?
  • What are qualified medical expenses eligible for tax-free treatment?
  • When are payments for insurance treated as qualified medical expenses?
  • Do the “use-it-or-lose-it” rules apply to an HSA or affect eligibility to make contributions?
  • Can an employer get back contributions made by mistake?
  • Are HSA rollovers and transfers subject to a “one in 12-month” or “60-day” rule?
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