2023 Health Savings Accounts Facts

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2023 Health Savings Accounts Facts features over 800 easy to read Q&As with detailed examples that demonstrate all aspects of HSA planning. It provides comprehensive tax analysis from the perspectives of employers, participants, beneficiaries, and self-employed individuals, making it the perfect single-source guide to help you best advise your clients.

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 2023 edition of Health Savings Accounts Facts helps readers understand the ins-and-outs of HSAs, along with related tools like FSAs and HRAs. Clear and simple explanations of plan types, deductible requirements, contribution limits, reimbursement rules, tax implications, and how to correct errors make this book a must-have 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.

New in the 2023 Edition:

  • The 2023 edition of Health Savings Accounts Facts has been fully revised, featuring:
  • Updates based on the Inflation Reduction Act, including how the act changed HSA law to allow HDHP plans to provide pre-deductible coverage for selected insulin products
  • COVID-19 regulatory changes to HSAs
  • CARES Act changes
  • Families First Coronavirus Response Act changes
  • New qualified distribution reasons
  • Additional guidance on the integration of HSAs with ACA requirements
  • Updated tax limits and other IRS information
  • Litigation updates

Topics Covered:

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:

  • HSA eligibility
  • Contribution limitations
  • HSA deductions
  • Tax reporting
  • Employer contributions
  • Comparability testing
  • Testing periods
  • Distribution rules
  • And More! See the “Table of Contents” section for a full list of topics
Additional Information
SKU 3810023B
Publication Date November 4, 2022
ISBN 978-1-954096-74-5
Page Count 470
Author Whitney Richard Johnson, Esq.
Edition 2023
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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.