Heath Savings Accounts - Getting them Right

The uncertainty on the rules and regulations of HSAs and whose job is what, breeds mistakes created by the member and the credit union.  Although they haven't changed much in the last 16 years, our understanding of the rules and responsibilities may ease the day-to-day corrections we are currently providing when the members make their mistakes.

Covered Topics

  • What are the 5 mandatory requirements for HSA eligibility?
  • What are the NEW contribution limits for 2020?
  • What responsibilities does the credit union have to monitor qualified medical expense withdrawals and excess contributions?
  • What kind of account should the HSA money be invested in?
  • How do we handle excess contributions and 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, Savings Counselors, Member Services 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.