Health Savings Accounts – Opening, Maintaining and Reporting Requirements Webinar
Health Savings Accounts are Trust Accounts that have almost the exact same reporting requirements for contributions and distributions with the IRS as IRA accounts. But HSAs aren’t getting the respect they deserve! see full description below
Click Here for Webinar Description and Audience
Health Savings Accounts are Trust Accounts that have almost the exact same reporting requirements for contributions and distributions with the IRS as IRA accounts. But HSAs aren’t getting the respect they deserve!
HSA owners don’t always use HSAs for the purposes required because in most cases the product is a transaction account similar to other accounts the owners have. Moreover, many financial institutions treat these accounts as regular DDA accounts regarding transactions being handled on the teller line with no clue how, when or even if the contributions are being reported correctly.
With misunderstanding of the rules, regulations and obligations of the fiduciary responsibilities of custodians or trustees for HSA accounts, there are so many mistakes by financial institutions that if the IRS ever truly initiated HSA audits, most likely there would be millions of dollars assessed on incorrect IRS reporting by banks and credit unions.
It’s time to get a handle on these tricky products and get some fail-safe policies and procedures in place to clean up the current messes and move forward in the right direction. Whether you now offer HSAs or are thinking about offering HSAs, this webinar will give you the information you need to set up these accounts correctly and perform proper maintenance and reporting.
•What are the 5 mandatory requirements for HSA eligibility?
•What is the definition of a HDHP?
•What are the contribution limits for 2016?
•What responsibilities does your financial institution have to monitor qualified medical expense withdrawals?
•How do you handle overdrafts in an HSA account?
•What kind of account should HSA money be invested in?
•How do you handle excess contributions and re-deposit medical expense reimbursements?
•What are the IRS reporting requirements for HSA contributions and distributions?
•What are the 4 major “trouble spots” for HSA accounts and the recommendations to solve the problems?
Who Should Attend?
New Account Representatives, Certificate of Deposit Personnel, Savings Counselors, Accountholder Service Representatives, Investment and Trust Personnel who are involved in the opening, selling, marketing, or administration of HSAs. Any officer/manager who “oversees” the New Account department and may be responsible for answering HSA accountholders questions or concerns but does not actually open HSA accounts.
Click Here for Continuing Education Credits (CEC) Info
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
Click Here for Viewing Option Descriptions
INCLUDES SEVEN DAYS OF ONDEMAND PLACKBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.