Recent COVID-19 Regulations: Information and Solutions To Help

Category: Uncategorized

Don’t Let New FSA Flexibility Disqualify New HSA Owners

March 18th, 2021

“But these temporary rules do not solve the grace-period problem. They’re prospective election changes only. . . The plan year is over, so a participant can’t make a prospective change. The only viable solution is to end the grace period by November 30.” William G. (Bill) Stuart Director of Strategy and Compliance March 18, 2021 […]

Don’t Forget to Complete Form 8889 if You Have HSA Activity

March 4th, 2021

“You’re required to complete and submit Form 8889 if you contribute to or distribute funds from your account, if you weren’t eligible to fund your account all 12 months of the calendar year 2020 (remember, Health Savings Account activity is tracked on the calendar year, regardless of your medical-plan renewal date), or if you inherited […]

Will the New President and Congress Find Common Ground on Healthcare?

November 19th, 2020

“Section 1332 of the ACA gives the Secretary of Health and Human Services broad power to approve state requests to innovate in offering coverage to their populations if the innovations expand coverage and don’t increase costs. The Trump Administration has approved a number of these requests. The Biden Administration is more likely to restrict innovation […]

Accessorizing Your Health Savings Account Program

October 29th, 2020

“A growing number of Health Savings Account owners are building balances to fund qualified expenses in retirement, including Medicare cost-sharing, Medicare premiums, and services (like dental and vision) not covered by Medicare. If they fund a Limited-Purpose Health FSA, they can enjoy the same tax benefits as a withdrawal from a Health Savings Account as […]

ICHRAs Aren’t a Panacea, But They May Help Manage Costs

October 1st, 2020

“With an ICHRA, the company sheds its liability for those high claims. The claims don’t go away. They’re simply shifted from the employer to the nongroup claims pool. Imagine dumping a quart of bleach into a gallon of water and then watering your houseplants. They won’t survive. Dump that same quart of bleach in your […]

An Update on ICHRAs

April 2nd, 2020

“Large employers (51 or more employees) who want to transition employees from group to nongroup coverage are discouraged to find that the nongroup plan designs are far less attractive than what they can purchase as a large group.” William G. (Bill) Stuart Director of Strategy and Compliance April 2, 2020 Last summer, the Trump Administration […]

Using an HSA to Reduce Future IRA Taxes

April 18th, 2019

“The good news is that the federal government is running a well advertised sale on federal income taxes. . . . Thus, a rollover now will cost you less than it would before 2018, since marginal tax rates are lower.” William G. (Bill) Stuart Director of Strategy and Compliance April 18, 2019 Most Americans don’t […]

Expanding HSAs

June 6th, 2018

“Giving more Americans with high medical, dental, and vision expenses more opportunities to pay less for these services should be a priority that every American, and member of Congress, can support.” William G. (Bill) Stuart Director of Strategy and Compliance June 7, 2018 The Health Savings Account industry, represented by the American Bankers Association HSA […]

The Advantages of an HSA

May 10th, 2018

“These are the benefits of HSAs of which we must never lose sight…  HSAs provide huge advantages to families of more moderate means, particularly as vehicles to build ‘rainy day’ medical savings and as a means to reduce the financial impact medical bills pose to family budgets.” William G. (Bill) Stuart Director of Strategy and […]

Four Books to Challenge You

February 1st, 2018

“We can’t continue to choose “none of the above” – that’s not a plan. It’s a $3 trillion copout.” William G. (Bill) Stuart Director of Strategy and Compliance February 1, 2018 Your high school English teacher probably told you that there’s no difference between those who can’t read and those who don’t. And he or […]

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