Health Savings Account Answer Book 7e

Health Savings Account Answer Book answers every HSA question...clarifies every HSA issue...in a format that's quick and easy to use. It tells you virtually everything you have to know to profit from HSAs - from how they work, what they offer participants, and how they can benefit employers to helping you determine how well they will fit your company or clients.

In quick-access, Q&A format, the Answer Book:

• Cuts through the hype and current confusion surrounding HSAs
• Helps you accurately weigh all their pros and cons
• Gives you the facts you need to make sound decisions...avoid pitfalls...answer employee challenges...and deal effectively with healthcare vendors

Health Savings Account Answer Book answers more than 600 key questions on all aspects of HSA establishment, administration, and compliance - including rules and penalties, medical coverage, contributions and deductions, distributions, rollovers and transfers, fiduciaries, filing requirements, and more. For example…

• After enactment of health care reform in 2010, will Congress consider legislation further expanding HSAs?
• What are the advantages HSAs offer over the other consumer-driven health plans?
• When is the deadline for making annual contributions?
• When is a mid-year enrollee treated as being HSA eligible for the entire year?
• How are rollovers from an HRA and FSA made?
• How are the tax-free qualified funding transfers to an HSA from an IRA or Roth IRA treated?
• What are the advantages to an employer of allowing employees to contribute to an HSA on a pretax basis through a cafeteria plan?
• How does an employer make accelerated HSA contributions?
• What happens if an employee fails to establish an HSA?

The Seventh Edition has been updated to include:

• Discussion of Congress's agenda with regard to health care and HSAs after the enactment of health care reform in 2010
• Discussion of the rules relating to the "commingling" of HSA assets
• Discussion of the Federal Reserves' debit card interchange transaction fee restrictions and prohibitions against payment card network exclusivity arrangements and how the Dodd-Frank Wall Street Reform and Consumer Protection Act applies to debit cards used with HSAs
• Explanation of the guidance in Notice 2010-59 regarding changes to the rules for reimbursement of expenses for over-the-counter medicine and drugs after 2010
• Coverage of the guidance regarding the 20 percent additional tax on distributions made after 2010 that are not used for qualified medical expenses