HSA Fall Update: Understanding the New IRS Rules


Presented by:
Whitney Johnson

This summer the IRS released three important Notices filling 51 pages with complex yet important new health savings accounts rules and clarifications:

  1. IRS Notice 2008-51 covering IRA to HSA transfers,
  2. IRS Notice 2008-52 covering the full contribution and testing period rules, and
  3. IRS Notice 2008-59 covering a wide variety of HSA topics including HSA custodial duties, establishment, eligibility, administration, prohibited transactions (overdrafts) and more.
Join us for the HSA seminar and learn the details on the new releases and more.
What you will learn:
  • IRA to HSA Transfers - Seminar materials include a New IRA to HSA WORKSHEET*
    • Permitted types of IRAs
    • Taxation - How is it taxed? Who benefits from this?
    • Substantially Equal Periodic Payments Rule
    • Maximum Funding Rules - What Happens if More Contributed?
    • Once-Per-Lifetime Rule (multiple IRAs, spouse's IRA, inherited IRAs)
    • No Deemed Distribution Rule (learn why this is important)
    • Process for Completing the Transaction
    • Reporting of the Transaction - Mistakes?
    • Testing Period Rules

  • Full Contribution and Testing Period Rules - Seminar materials Include New HSA TESTING PERIOD WORKSHEET*
    • Review of the Full Contribution Rule
    • Understand When the Rule Applies
    • Testing Period Analysis
      • Testing Period Rules When Both IRA Transfer and Regular Contributions Are Made
      • Tax Treatment of Violation of Testing Period Rules
      • Reporting Requirements
  • New IRS Rules
    • When is an HSA Established
      • What if HSA Closed and Re-Opened Later?
      • Can the Insurance Start Serve as Establishment Date?
      • Reporting of Custodial Fees
      • Opening HSA When No Longer HSA Eligible
  • Lines of Credit and HSAs - Overdrafts
  • Debit Card Usage
    • Authorized Signer Rules
    • Use of Restricted Debit Card
  • Employer Groups
    • Employer to Recoup Excess Contribution Overpayment
    • Mistaken Employer Contributions - Non Eligible Employee
    • Employer Contributions for the Previous Year
  • On-Site Reduced Cost Health Care Clinics
* HSA Authority developed Worksheets in the most difficult HSA areas. The Worksheets are designed for use as handouts to HSA customers and employers. The Worksheets are written in plain English and use a step-by-step process to guide users through a complex HSA issue.

Who should attend?
Health Savings Account administrators, IRA administrators, customer service representatives, small business managers, employee benefit/payroll managers, branch managers, personal bankers, branch administration, and financial institution personnel deciding whether to enter the HSA market.

(requires Windows Media Player and IE).

About the speaker:
Whitney is the founder of HSA Authority, LLC an HSA solution provider for financial institutions and an Assistant Professor of Business Law at St. Cloud State University. Whitney has worked with HSAs since their introduction and he has started three companies devoted to the compliance and marketing aspects of Health Savings Accounts. Prior to the HSA legislation, Whitney worked with financial institutions for over 17 years. Thirteen of those years were spent at Wolters Kluwer Financial Services/Bankers Systems in various roles; including as a seminar attorney and legal counsel for the Financial Services Division, primarily working with IRA issues. He presents frequently on HSA and IRA topics.

Whitney co-authored the IRA Answer Book for Panel Publishing and has written articles for a number of publications; including, the American Banker and the ABA Banking Journal. He also served as an appointed member to IRPAC, an IRS Advisory Board that meets in Washington DC. Whitney serves as an expert witness on the duties and responsibilities of an IRA custodian and trustee.

Whitney graduated with a Finance Major from the University of Wisconsin - Madison and a JD from the University of Minnesota.
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

Add to Cart:

  • Model: cd_hsa1008
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Wednesday 14 January, 2009.

Copyright © 2022 BankersOnline.com