Health Savings Account Answer Book, Third Edition

In quick-access, Q&A format, The Third Edition of Health Savings Account Answer Book covers HSAs comprehensively and in depth, from their establishment by Congress in early 2004 To The latest rulings and developments. it cuts through the hype and current confusion surrounding HSAs; helps you accurately weigh all their pros and cons; and 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, Third Edition answers over 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. Everything is explained clearly in plain English. Plus, this highly practical Answer Book gives you hundreds of real-life examples...practice pointers...notes and cautions...ready-to-use forms...citations to case law...charts...tables...and other valuable features to make it directly applicable and easy to use. Highlights of the Third Edition include: Discussion and analysis of the improvements made by the Tax Relief and Health Care Act of 2006 (TRHCA) Discussion of the prohibited transaction exemption under the Pension Protection Act of 2006 (PPA), which allows HSA providers to offer personalized investment advice to HSA account holders Discussion of the new safe harbor conditions for an HSA to be exempt from ERISA (including Department of Labor (DOL) guidance issued Oct. 27, 2006) Discussion of ERISA fiduciary rules And The consequences when an HSA is subject to ERISA, including whether a trust rather than a custodial account is required Discussion of the advantages to an employer of allowing employees to contribute to HSAs on a pretax basis through an employer's cafeteria plan Changes and clarifications that were made under the final employer contribution comparability regulations and their significance Comparability issues for independent contractors, sole proprietors, partnerships, former employees, part-time employees, unionized employees, and others Examination of the mechanics of funding, prefunding, testing periods, and categories of coverage relating to comparable contributions Updated form filing requirements for HSA owners and contributing employers Examination of the effect of state laws on HSA contribution eligibility and legislative proposals to address these issues Discussion of how the USA Patriot Act affects the establishment of an HSA Expansion and analysis of HSA adoption statistics Discussion of ERISA fiduciary rules And The consequences when an HSA is subject to ERISA, including whether a trust rather than a custodial account is required Analysis of changes made To The definition of dependent for HSA and other purposes by the Working Families Tax Relief Act of 2004 (WFTRA) And The Gulf Opportunity Zone Act of 2005 (GOZA) Analysis of the interaction between HSAs and other types of health coverage and available transitional relief Review of the changes made To The transition rules involving state laws for non-calendar-year plans And The additional relief for coverage periods of 12 months or lessWilliam F. Sweetnam is the author of 'Health Savings Account Answer Book, Third Edition', published 2007 under ISBN 9780735566361 and ISBN 0735566364.