HSAs for Group - What You Don't Know Can Hurt You

With Whitney Johnson

HSAs for Group - What You Don't Know Can Hurt You

With Whitney Johnson
  • 1 Video
  • 3 PDFs
  • 5.0 hrs
Course description

ICB Credit: 2.5 CRCM

Learn the most important points in operating an HSA program for employer groups. Opening HSAs for groups is not the same as individual HSAs. Failing to know the differences could destroy the trust of a key business you serve. Failing to set proper expectations with an employer can also destroy a valuable relationship as many employers intuitively believe the role of the custodian is larger than it actually is. And, perhaps worst of all, failure to follow the special laws for group HSAs could jeopardize your entire operation. This webinar will focus on the differences in working with groups and the special rules that apply to group plans.

The webinar will cover the following:

  • Overview of Employer Groups
    • Employers, employees and custodians - who does what?
    • What is an "employer group?" When do special rules apply? When is it the custodian's responsibility to inform the employer of a special rule?
    • What do employers expect from the HSA custodian? Should custodians provide HSA education? Do they have to?
    • How should custodians help with enrollment?
    • What is the custodian's legal relationship with the employer versus the employee? ◦Employer HSA Funding - including EMPLOYER FUNDING WORKSHEET*
    • What are the rules regarding employer funding of employee HSAs?
    • What is the employer required annual notice?
    • What happens when an employee turns age 65? Seminar will include an AGE 65 WORKSHEET* that covers these issues in detail.
    • How can employers and employees make HSA contributions? How does the custodian help with the different methods?
    • How are mistakes fixed? What if the employer and employee disagree on how to fix the mistake? How do custodian's avoid being in the middle?
    • Is the IRS reporting for employer groups different than individual HSAs? ◦Comparability Review - Including COMPARABILITY WORKSHEET*
    • What is comparability testing? Whose responsibility is this test?
    • What types of discrimination are allowed?
    • What's the best timing approach for employers making HSA contributions? Why the timing of HSA contributions matters and how to allow for acceleration.
    • Who pays the 35% penalty for failure?
    • Small Business Owner Issues - including SMALL BUSINESS OWNER GUIDE*
    • What custodians need to know about small business owners?
    • How the IRS does treats small business owners for HSAs?
    • Section 125 Plans - Including HSA/FSA/HRA COMPARISION GUIDE*
    • Why custodians should know something about Cafeteria plans.
    • Why Section 125 plans are crucial for a successful HSA program.
    • How Does the Taxation/Reporting Work?
    • What are the custodian's reporting obligations?
    • What are the employers?
    • The employees?
    • Who keeps this all straight?
    *The materials include Worksheets in key areas. The Worksheets are plain English, short, step-by-step guides to walk through the most common and difficult issues in HSAs. The worksheets provided are for internal use by the financial institution and are available for purchase for distribution to customers.

Course Curriculum

Video
113:02
HSAs for Group - What You Don't Know Can Hurt You
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Instructor

Whitney Johnson
Whitney Johnson

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.

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