2023 Health Savings Accounts Facts

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