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2020 Health Savings Accounts Facts

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Understand the ins-and-outs of Health Savings Accounts (HSA), as well tools like Flexible Savings Accounts (FSA) and Health Reimbursement Arrangements (HRA), and how they are used in today’s evolving healthcare environment.

Health Savings Accounts (HSAs) have become an increasingly important component in compensation planning strategies for employers, employees, and self-employed individuals. With investment, tax, and medical cost savings advantages, HSAs can be employed to solve a variety of unique planning goals.

However, the long-time horizons and incredible flexibility of HSAs bring with them significant complexity and can present substantial penalties and tax liability if they are used incorrectly. The 2020 edition of Health Savings Accounts Facts helps readers understand the ins-and-outs of HSAs, along with related tools like FSAs and HRAs (including QSEHRAs and individual coverage HRAs). 

Written for employee benefits professionals, third-party administrators, or anyone who needs a comprehensive understanding of how HSAs can be used in today’s healthcare environment, this resource saves professionals significant time searching numerous references for hard-to-find answers, because it puts vital and valuable information all in one place, covering:

  • Written for HSA eligibility
  • Contribution limitations
  • HSA deductions
  • Tax reporting
  • Employer contributions
  • Comparability testing
  • Testing periods

New in the 2020 Edition:

  • Coverage of new regulations pertaining to QSEHRAs
  • Explanation of the new Individual Coverage HRAs (ICHRAs)
  • Enhanced coverage of the integration of HSAs with ACA requirements
  • Updated tax information
  • New ERISA compliance information, including Form 5500 requirements
  • Litigation updates

Topics Covered:

  • Health Care Reform’s Impact on Health Savings Accounts
  • Eligibility
  • Establishment
  • Transfers and Rollovers
  • Distributions
  • Tax Issues
  • Employer Issues
  • And More! See the “Table of Contents” section for a full list of topics
Additional Information
SKU 3810020
Brand National Underwriter
Publication Date March 27, 2020
ISBN 978-1-949506-68-6
Page Count 464
Author Whitney Richard Johnson, Esq
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Whitney Richard Johnson, Esq.

Whitney Richard Johnson, Esq. is a founder and principal of HSA Authority, LLC and HSA Resources, LLC – businesses that provide HSAs to employers and individuals as well as HSA solutions for financial institutions. Mr. Johnson has an undergraduate degree in Finance from the University of Wisconsin at Madison and a law degree from the University of Minnesota. He is an Associate Professor at St. Cloud State University where he teaches business law.

Mr. Johnson’s legal and compliance background in HSAs extends through the entire history of HSAs as well as their predecessor, Medical Savings Accounts. He also worked more than a decade extensively with Individual Retirement Accounts (IRAs) which provide the legal framework for the HSA law and rules. Mr. Johnson has written and presented extensively on HSAs which has extended the opportunity to both hear and answer thousands of HSA questions from HAS professionals, owners and companies. Prior to the passage of the HAS legislation, Mr. Johnson worked as an attorney in private practice and as in-house counsel focusing on tax-deferred plans working with financial institutions. He also served as an appointed member to IRPAC, a Washington DC IRS Advisory Board. In addition, Mr. Johnson serves as an expert witness on the duties and responsibilities of a custodian and trustee.