Health Savings Accounts are celebrating their 14th “birthday” and there has never been a more misunderstood product. While many HSA custodian and trustees have been more than patient with the HSA account owner’s “learning curve”, creating extra work for the institution, it’s time for the members to take responsibility and PAY ATTENTION! For example, many HSA owners are using their HSA as a perpetual contribution account covering all of their medical (and non-medical) expenses without any concern with the annual contribution limitations. After receiving an excess contribution IRS penalty, they now want the credit union to go back 2-3 years and “fix it”. There are so many mistakes being made by accountholders and credit union employees resulting in hours of unnecessary corrections. It is time to get a handle on these tricky products and get some fail-safe policies and procedures in place to clean up the messes we have encountered and move forward in the right direction.
Whether you are currently offering HSAs or are thinking about offering HSAs, this 90 minute extremely informative webinar will give you the information you need to make sure you are setting the accounts up correctly and performing the proper maintenance and reporting.
- What are the 5 mandatory requirements for HSA eligibility?
- What is the NEW family plan limit for 2018?
- How do we correct excess contributions made in 2018 for the original family plan limit posted by the IRS?
- What kind of account should the HSA money be invested in?
- How do we re-deposit medical expense reimbursements?
- What are the IRS reporting requirements for HSA contributions and distributions?
- What are the 3 major “trouble spots” for HSA accounts and the recommendations to solve the problems?
Who Should Attend?New Account Representatives, Certificate of Deposit Personnel, Share Account Counselors, Member Service Representatives, Investment and Trust Personnel who are involved in the opening, selling, marketing, or administration of HSAs. Any officer/manager who "oversees" the New Account department and may be responsible for answering HSA accountholders questions or concerns but does not actually open HSA accounts.
Please note: This site employs features that may cause unexpected behavior in older versions of Internet Explorer. If you experience a problem, try refreshing your screen. If this doesn't solve the problem, click on this link.
You may contact us by using the Online Chat button below.