Headlines about "Health savings accounts (HSAs)"

Gathered from the web by the editors at BenefitsLink.com.
[Opinion] Congress Declares War on HSAs
Excerpt: "[T]he health care bill passed by the Senate (December 24, 2009) does not directly outlaw HSA-eligible plans, but it restricts HSA options in insidious ways that will delay, deny, defeat and ultimately kill them." (National Center for Policy Analysis)

Demystifying High-Deductible Health Plans
Excerpt: "[A]t least half of large employers offer a high-deductible plan. The figure in 2009 was 54 percent, according to the Health Care Cost Survey by Towers Perrin (now Towers Watson). The survey focused on Fortune 1,000 companies." (Workforce Management)

Former Execs of Bankrupt HSA Administrator Accused of Fraud
Excerpt: "The FBI also alleges that the men used phony bank statements to conceal the diversion of approximately $19 million from HSAs and FSAs to Canopy's operating accounts in 2009, which they then misappropriated for their own use." (Workforce Management)

[Guidance Overview] Alzheimer's Expenses are Qualified Medical Expenses
Excerpt: "A recent information letter by the IRS addressed whether the monthly fee that is paid to an Alzheimer's medical facility is considered a qualified medical expense and in turn tax deductible." (Infinisource)

Missing HSA Money Raises Oversight Questions
Excerpt: "Thousands of people are learning that money they squirreled away in health savings accounts is gone. Many thought the money was sitting safely in banks. But now it appears it was stolen. Federal investigators have released few details, but all the cases have one thing in common: a Chicago company called Canopy Financial. Now critics are questioning whether more government oversight is needed for the accounts." (Morning Edition via National Public Radio)

Which Consumer-Driven Health Care Option Should You Choose: HSAs, FSAs, HRAs? (PDF)
4 pages. Excerpt: "As the satisfaction of consumer driven health plans hasincreased over the years, the interest has grown significantly. Unfortunately, many consumers and employers are confused about the differences between the various consumer driven plans and which optionwould be best for them. The Council for Affordable Health Insurance (CAHI) first prepared this analysis in 2002 and has updated it annually in an effort to help people make informed choices about consumer driven health plans." (Council for Affordable Health Insurance)

[Guidance Overview] IRS 2010 Versions of Forms 1099-SA and 5498-SA for HSA, Archer MSA, and Medicare Advantage MSA Trustees and Custodians
Excerpt: "EBIA Comment: Remember that trustees and custodians should not use these 2010 forms until 2011, when reporting for the 2010 tax year is due. The 5498-SA and 1099-SA information returns -- together with account-related information provided by employers on Forms W-2 -- provide useful information to account holders, who have reporting obligations of their own." (Employee Benefits Institute of America)

[Guidance Overview] Tax Court Holds That Sex Reassignment Surgery Expenses Were for Medical Care
Excerpt: "EBIA Comment: Determining whether an expense is for medical care is not always easy -- in addition to the majority opinion discussed above, multiple concurring and dissenting opinions were issued. The majority's holding differs from the conclusion reached in earlier Chief Counsel Advice on the same topic (see our Checkpoint Newsstand article), which we understand involved the same taxpayer. Meanwhile, health FSA administrators will appreciate having this new guidance." (Employee Benefits Institute of America)

[Guidance Overview] IRS Issues New Form 8928 on Excise Taxes for Failures to Comply with HSA Comparability, COBRA, HIPAA, and Other Group Health Plan Mandates
Excerpt: "EBIA Comment: This Form's publication likely signals increased focus on excise tax assessment for noncompliance with these various mandates. To help keep the excise tax risks to a minimum, cautious plan sponsors (and others, like TPAs and insurers, who may be liable) will follow an approach to compliance designed not only to prevent mistakes from happening but also to catch and correct the ones that inevitably fall through the cracks." (Employee Benefits Institute of America)

[Guidance Overview] Health Savings Accounts Information: Updated for 2010 (PDF)
3 pages. Two-page chart with questions and answers on HSAs. (Council for Affordable Health Insurance)

[Guidance Overview] Excise Tax Reporting for HIPAA, COBRA and HSA Violations
Excerpt: "HIPAA, COBRA and certain other laws include excise tax penalties for violations and similar excise tax provisions apply to certain health savings account (HSA) and medical savings account (MSA) contributions. Employers have had little guidance on reporting or paying these excise taxes, but final IRS regulations issued in September 2009 fill that void, describing who is responsible for paying the tax, and how and when to report violations." (Mercer LLC)

Important Dates to Remember in the First Quarter of the Year
Examples: HITECH Act Takes Primary Effect, February 17, 2010; DoDAA Grace Period Extension Period Ends, February 17, 2010; Penalties for HITECH Act Breach Notice Violations Begin, February 22, 2010. (Infinisource)

2009 Versions of HSA Reporting Form 8889 and Publication 969
Excerpt: "EBIA Comment: The absence of significant changes in these 2009 releases is what we expected, given that the rules governing HSAs, HRAs, and health FSAs have remained relatively stable this year. It will be interesting to see what changes may emerge in 2010 as part of any health care reform proposals that may be enacted, and to see whether the final cafeteria plan regulations will be issued." (Employee Benefits Institute of America)

[Guidance Overview] Decrease of 7.5 Cents in 2010 Mileage Rate for Transportation to Obtain Medical Care or as Part of Deductible Moving Expenses
Excerpt: "EBIA Comment: Transportation expenses that are deductible medical expenses under Code Section 213 generally form the basis for tax-free transportation benefits under a health FSA, HRA, or HSA. To simplify administration, some employers' health FSAs or HRAs exclude medical transportation expenses from the list of reimbursable items; if not excluded, such expenses may be reimbursed by health FSAs or HRAs at the 16.5 cents per mile rate for 2010. HSA account holders can also choose to use the standard mileage rate to calculate the tax-free distribution that they can take for medical transportation expenses that meet the Code Section 213 definition of medical care. But remember, the new rate doesn't apply until 2010." (Employee Benefits Institute of America)

[Guidance Overview] IRS's 2009 Version of Pub. 502 on Medical and Dental Expenses
Excerpt: "EBIA Comment: Pub. 502 provides valuable guidance on what qualifies as a medical expense under Code Section 213(d), and thus, certain information about which expenses can be reimbursed or paid by health FSAs, HSAs, or HRAs. However, using Pub. 502 to determine what expenses are reimbursable under these tax-favored vehicles must be done with caution, because Pub. 502 addresses only what expenses are deductible -- -it doesn't describe the different rules for reimbursing medical expenses under health FSAs, HSAs, or HRAs." (Employee Benefits Institute of America)

What Do We Know About Enrollment in Consumer-Driven Health Plans?
Excerpt: "This article summarizes the literature on CDHP offer rates and enrollment. The percentage of employers offering CDHPs has gone from virtually none in 2000 to 12 percent in 2009. Based on the various sources of data on enrollment in health reimbursement arrangements (HRAs) and HSA-eligible plans, it appears that 15?19 million people were enrolled in these plans in 2009, representing 9?11 percent of the privately insured market." (Employee Benefit Research Institute (EBRI))

[Guidance Overview] ITS Regulations on Employer Comparable Contributions to HSAs
Excerpt: "The regulations also address comparability rules for qualified HSA distributions, which are direct distributions from health flexible spending accounts (FSAs) or health reimbursement accounts (HRAs) to HSAs. If an employer offers qualified HSA distributions to any employee, the employer must offer such distributions to all employees who qualify as eligible individuals under any HDHP. Conversely, an employer may offer qualified HSA distributions to eligible individuals enrolled under the employer's HDHP but not to eligible individuals who are not enrolled in the HDHP. The final regulations on HSA comparable contributions apply to employer contributions made on or after Jan. 1, 2010." (Watson Wyatt Worldwide)

Research Shows Employers That Adopt Consumer-Driven Health Plans Favor Health Saving Accounts As Key Funding Option
Excerpt: "The analysis is based on survey results of 370 employers polled in the summer of 2009. In the issue brief titled 'CDH plans shift to HSAs', researchers report that 44% of employers offer a CDH plan to their workers, a slight fall from 2008 (45%) but up from 28% in 2006." (Employee Benefit News; free registration required)

Employers Prefer HSAs in CDHP Offerings, According to Survey
Excerpt: "Among employers who offer a consumer-driven health plan (CDHP), health savings accounts (HSAs) continue to be the preferred funding choice, according to a survey by Aon Consulting and the International Society of Certified Employee Benefit Specialists. Of the 370 survey respondents, 44% of employers currently offer a CDHP to employees - similar to last year, according to a press release. Of those offering CDHPs this year, 56% are now using the HSA model, 35% are using the Health Reimbursement Arrangements (HRA) model, and 9% use both. Over the last three years, the gap has widened between HSAs and HRAs, as the number of employers offering HSAs has gone from 48% to 56%, and the number offering HRAs has dropped from 43% to 35%." (PLANSPONSOR.com; free registration required)

Research Shows Attaching a Debit Card to an HSA Is Key Driver of Enrollment
Excerpt: "The debit card 'adoption and use continue to grow and grow rapidly,' says Jody Dietel, a compliance officer at WageWorks, a San Mateo, Calif.-based firm that administers flexible spending accounts, health savings accounts, health reimbursement arrangements and health care cards. 'The technology is increasing and improving rapidly. [The debit cards] continue to be a widely adopted and widely appreciated tool for consumers.'" (Employee Benefit News; free registration required)

Employers Drop, Shift Contributions to Consumer-Directed Health Plans
Excerpt: "[E]mployees with family coverage in a CDHP saw their employer contributions rise this year. The percentage of workers with CDHP family coverage receiving an employer contribution of at least $1,000 stood at 79% in 2009, up from 59% in 2008. The share of the adult population enrolled in account-based health plans remains small and growing slowly, the survey confirmed. In 2009, 4% of adults with health insurance were enrolled in an HRA or had a high-deductible plan with an HSA . . . ." (Employee Benefit Adviser; free registration required)

Availability, Contributions, Account Balances, and Rollovers in Account-Based Health Plans, 2006?2009
Excerpt: "The share of the adult population with private health insurance enrolled in account-based health plans (so-called 'consumer-driven' health plans, or CDHPs) remains small but continues to grow. In 2009, 4 percent of the adult population with private health insurance was enrolled in an health reimbursement arrangement (HRA) or had a high-deductible plan with an health savings account (HSA), up 1 percentage point from the previous year." (Employee Benefit Research Institute (EBRI))

[Guidance Overview] New Treasury Regulations Require Group Health Plans to Self-Report Excise Tax Liability
Excerpt: "Beginning January 1, 2010, plan sponsors (plan administrators for multiemployer plans) will need to self-report excise tax liabilities for failure to meet certain health plan requirements, including requirements under: * COBRA; * HIPAA's portability and nondiscrimination rules; * Newborns' and Mothers' Health Protection Act; * Mental Health Parity and Addiction Equity Act; * Health savings account comparability provisions; * Michelle's Law; * Genetic Information Nondiscrimination Act (GINA)" (Ballard Spahr)

[Guidance Overview] Chart of 2009 and 2010 Retirement Plan and Other Inflation‑Adjusted Benefits (PDF)
3 pages. Also included are transportation and adoption benefits. (Seyfarth Shaw LLP)

GM Salaried Staff Get Only Consumer-Driven Health Plans
Excerpt: "General Motors Co. will offer only high-deductible consumer-driven health care plans to its 24,000 salaried employees, effective Jan. 1. GM salaried employees will choose from two plans, both linked to health savings accounts. Under one plan, the deductible will be $1,300 for single coverage and $3,100 for family coverage, with a maximum annual out-of-pocket expense of $2,200 for those with single coverage and $5,000 for family coverage. Employees will pay monthly premiums ranging from $5 for those with single coverage and $15 for those with family coverage. In the other CDHP, deductibles also will range from $1,300 to $3,100, but GM will cover all eligible in-network expenses after the deductibles are met. The monthly premiums for that plan will range from $25 for individual coverage to $75 for those with family coverage." (Business Insurance)

[Guidance Overview] New IRS Considerations Regarding Over-the-Counter Items as Medical Care Expenses
Excerpt: "While the IRS guidance adds some certainty, it also reminds us that for many over-the-counter items, reimbursement cannot be automatic. If you decide to cover the expenses of dual-purpose items as part of your FSA or HRA benefit program, you must ask questions necessary to verify that those expenses are reimbursable medical expenses." (Warner Norcross & Judd LLP)

[Guidance Overview] 2010 Benefit Limits
Excerpt: "The Service has also released health and fringe benefit plan adjustments effective January 1, 2010." (Kilpatrick Stockton LLP)

Making Sense of High-Deductible Health Plans
Excerpt: "If you and I are spending more of our own money on health care, then we are likely to ask doctors and hospitals many more questions upfront and be more careful about which tests and procedures we receive. After all, until we exhaust that high annual deductible, it's our money on the line. Employers are pushing these plans because they can save the company as much as 20 percent, compared with traditional insurance." (New York Times; free registration required)

Research Shows Attaching a Debit Card to an HSA Is Key Driver of Enrollment
Excerpt: "Nearly everyone is familiar with swiping a card to pay for groceries, gas and movie tickets. That familiarity, ease and convenience is helping the growth of debit cards for health savings accounts, which patients can use to pay for their pharmaceuticals, copays, medical equipment and hospital expenses. The debit card 'adoption and use continue to grow and grow rapidly,' says Jody Dietel, a compliance officer at WageWorks, a San Mateo, Calif.-based firm that administers flexible spending accounts, health savings accounts, health reimbursement arrangements and health care cards. 'The technology is increasing and improving rapidly. [The debit cards] continue to be a widely adopted and widely appreciated tool for consumers.'" (Employee Benefit News; free registration required)

[Guidance Overview] IRS Final Regs on COBRA, HIPAA and HSA Penalty Reporting, Clarifies HSA Comparability Rules
Excerpt: "Final IRS rules require filing Form 8928 to report and pay excise taxes for violations of HIPAA portability, COBRA, or comparability rules for employer contributions to health savings accounts (HSA) outside of a cafeteria plan or to Archer medical savings accounts. The regulations also clarify certain HSA comparability rules, including the allowance for some higher-paid employees and contributions for midyear plan entrants. The new requirements and clarifications apply to filings due and employer HSA contributions made on or after Jan. 1, 2010." (Mercer LLC)

[Guidance Overview] Genetic Information Nondiscrimination Act Health Insurance Regulations Issued
Excerpt: "Highly anticipated regulations on the Genetic Information Nondiscrimination Act (GINA) will require many employers to modify health risk assessments (HRAs) and other aspects of group health plans and wellness programs. Under the interim final rules, plans and insurers cannot collect genetic information, including family medical history, before or as part of enrollment or use genetic information to adjust premiums or contributions. This restriction means HRAs tied to incentives may need changes." (Mercer LLC)

Health Savings Account Balances Kept Growing in 1st Quarter of 2009
Excerpt: "[T]he average individual HSA account holder for the first quarter of 2009 was 42 years old and contributed $116 monthly, up slightly from an average monthly contribution of $111 for the fourth quarter of 2008. For that same time period, the average monthly employer contribution increased from $69 to $113 for individual HSA account holders. The average family HSA account holder for the first quarter of this year was 45 years old and contributed an average of $239 monthly, up from an average monthly contribution of $206 for the previous quarter." (AISHealth.com)

[Opinion] Reform Plans Leave Health Savings Accounts in Limbo
Excerpt: "While Washington wrangles over health care, the nation's last big reform innovation faces an uncertain future. Health Savings Accounts, the hybrid of flex spending accounts and IRAs that President Bush created in 2003, are an afterthought in the current proposals on Capitol Hill -- with strenuous debate over whether their demise would be a disaster or a welcome end to a program that never lived up to its promise." (CNNMoney.com)

Banks, Insurers Battle for Health Savings Accounts in Health Reform
Excerpt: "If Congress passes a health-care overhaul bill, all health plans would have to meet certain criteria to qualify as adequate coverage. Most people's current coverage would be grandfathered in but, if they switched plans, those plans would need to meet the new standards. Not all HSA-qualified plans, in particular those sold by insurers to individuals and small businesses, would make the grade, according to industry experts. 'It's a concern. We want the accounts to be viable going forward,' says Kevin McKechnie, staff director of the American Bankers Association's HSA Council, which represents banks, insurance companies and their technology providers. More than 2,000 banks, credit unions and brokerage firms offer HSAs." (The Wall Street Journal)

[Guidance Overview] IRS's Final Health Savings Accounts' 'Comparability' Regulations
Excerpt: "The IRS issued final regulations on 'comparable contributions' to health savings accounts that are effective for contributions made on or after January 1, 2010. Adopting the proposed regulations without substantive revision, the final rule allows employer contributions for non-highly compensated employees that are larger than those for highly compensated employees; allows the employer to make the maximum contribution on behalf of mid-year eligible individuals; and prescribes the manner for reporting and paying excise taxes for the failure to make comparable contributions." (Deloitte via BenefitsLink.com)

[Guidance Overview] IRS's Final Regulations on Excise Tax Reporting and HSA Comparability
Excerpt: "EBIA Comment: The deadline for excise tax reporting and payment for failure to comply with the group health plan mandates is the federal income tax return due date without extensions, which may take some filers by surprise, especially employers who routinely obtain filing extensions. For employers and others concerned about potential excise tax liability for failure to comply with the group health plan mandates, we note that these excise taxes do not apply for periods where failures are not discovered exercising reasonable diligence, or to failures due to reasonable cause (and not willful neglect) that are timely corrected. However, the regulations underscore the importance of having (and following) procedures to identify and correct compliance failures." (Employee Benefits Institute of America)

[Guidance Overview] IRS Issues Final Rule on Comparable HSA Contributions
Excerpt: "The Internal Revenue Service (IRS) has issued final rules on comparable employer contributions to employee health savings accounts (HSAs) and filing excise taxes for contributions that exceed statutory guidelines. As in the proposed regulation issued in July 2008 (see IRS Proposes New Rules on Employer HSA Contributions), the final regulations address an exception to comparability rules for employer contributions and provide that employer contributions to the HSAs of non highly-compensated employees may be larger than employer contributions to the HSAs of highly-compensated employees with comparable coverage during a period. However, employer contributions to the HSAs of highly-compensated employees may not exceed employer contributions to the HSAs of non highly-compensated employees with comparable coverage during a period." (PLANSPONSOR.com; free registration required)

[Guidance Overview] DOL Staff Members Provide Informal Views on SPDs/SMMs and Issues Under the Davis-Bacon and Service Contract Acts
Excerpt: "The Joint Committee on Employee Benefits (JCEB) of the American Bar Association has reported on its May 7, 2009 Q&A session with DOL staff members. Highlights include unofficial, nonbinding remarks about these welfare plan topics: (1) SPD requirements when there is a change in federal law, and (2) treatment of FSAs, HRAs, and HSAs under the Davis-Bacon Act and the Service Contract Act." (Employee Benefits Institute of America)

[Official Guidance] Final IRS Regs: Employer Comparable Contributions to Health Savings Accounts Under Section 4980G (PDF)
7 pages. Excerpt: "The sections of these regulations that provide guidance on employer comparable contributions to HSAs under section 4980G apply to employer contributions made on or after January 1, 2010. The sections of these regulations that provide guidance relating to the excise tax under sections 4980B, 4980D, 4980E and 4980G apply to any Form 8928 that is due on or after January 1, 2010." (Internal Revenue Service)

Health Care Reform and Account-Based Health Plans: What Does the Future Hold for Employers? (PDF)
3 pages. Excerpt: "As the health care reform debate continues into the fall of 2009, employers that offer or are considering consumer-driven, account-based health plans (ABHPs) may wonder how those plans will fare after reform is fully implemented." (Towers Perrin)

[Opinion] Health Savings Accounts Could Lead to Real Health Care Reform
Excerpt: "ObamaCare would almost surely kill off consumer-driven plans that reward patients for smart shopping. That's a pity, because there are signs that the plans may actually be starting to cut costs." (Investor's Business Daily)

Heath Savings Account Balances Increase for Individuals and Families, According to Report
Excerpt: "Balances in health savings accounts increased slightly in the first quarter from fourth-quarter 2008 levels, according to data from Canopy Financial Inc. The average balance in an individual health savings account rose 3 percent to $960 during the first quarter, while the average balance in a family HSA grew by 7 percent to $1,720, according to San Francisco-based Canopy Financial, a provider of health care banking technology solutions." (Workforce Management; free registration required)

[Guidance Overview] IRS May Exercise Levy Power over HSAs
Excerpt: "When individuals do not pay all of their taxes, the IRS has several powers to collect the back taxes, plus penalties and interest. Recently, the IRS clarified that its powers extend to Health Savings Accounts (HSAs). Recall that HSAs differ from other benefit spending accounts (e.g., Health FSAs and Health Reimbursement Arrangements [HRAs]) in that the participant actually owns and controls the account, not the employer." (Infinisource)

[Guidance Overview] FTC Delay of Enforcement of Red Flags Rule Until November and FAQs Addressing Employee Benefit Plans
Excerpt: "EBIA Comment: The enforcement delay is welcome news and the FAQs provide some helpful clarification for health FSAs and 401(k) plans. Unfortunately, some issues for employee benefit plans remain unanswered. For example, for those offering health FSA debit cards, it is unclear who is responsible for implementing the Rule -- the plan sponsor, the TPA, or another entity involved in the card program. Further clarification would also be helpful about the Rule's application to other benefits, such as DCAPs, HRAs, and HSAs." (Employee Benefits Institute of America)

Say Goodbye to Reimbursement of Over-the-Counter Medications Through FSAs, HRAs, MSAs
Excerpt: "The House Ways and Means Committee's amendment to the America's Affordable Health Choices Act (H.R. 3200) would prohibit employees from using health FSA dollars to pay for over-the-counter medications. The proposal is estimated to raise $8.2 billion over 10 years. The proposal also would extend to health savings accounts (HSAs), health reimbursement arrangements (HRAs) and Archer Medical Savings Accounts (Archer MSAs)." (Wolters Kluwer)

[Guidance Overview] HSAs Are Subject to IRS Levy, and Levy Amount Generally Is Subject to10% Excise Tax on Nonmedical Distributions
Excerpt: "EBIA Comment: To our knowledge, this [Chief Counsel Advisory (CCA)] is the first IRS guidance addressing IRS levies upon HSAs. In confirming that a tax levy may reach an HSA, the CCA focuses on whether the amount of the levy is subject to the additional 10% excise tax for nonmedical HSA distributions. Although the CCA does not explicitly discuss the issue, we note that the distribution resulting from the levy, like any other HSA distribution for nonmedical purposes, would also be included in the taxpayer's gross income and subject to income tax. CCAs are issued by the Office of Chief Counsel to IRS field or service center employees, and while they cannot be used or cited as precedent, they are helpful in determining the IRS's position." (Employee Benefits Institute of America)

Nonbank Trustees and Custodians: IRS Web Page
Excerpt: "Pursuant to Treas. Reg. ?1.408-2(e), an entity that is not a bank (or, in the case of Archer medical savings accounts and health savings accounts, not a bank or an insurance company) must receive IRS approval to serve as a nonbank trustee or custodian of the following types of tax-exempt trusts or accounts . . . ." (Internal Revenue Service)

FSAs Could Be Sacrificed in Hunt for Health Overhaul Money
Excerpt: "FSAs, which allow consumers to put aside before-tax dollars to pay for medical expenses, are getting close scrutiny as Congress scours the health system for money to finance an ambitious expansion of insurance. The Joint Committee on Taxation told Senate leaders recently they could collect $68.6 billion over 10 years by abolishing the accounts, along with separate ones in which employers contribute money for workers to use for health care expenses. Eliminating both types of accounts would pay for four percent or more of the estimated $1 trillion to $1.5 trillion cost of expanding coverage to the 46 million uninsured." (Kaiser Family Foundation)

[Opinion] Letter to Senate Finance Committee Discussing Views on Health Care Reform Financing Options (PDF)
5 pages. Excerpt: "The evidence of the last five years shows that HSAs and other consumer-driven health plans are reducing or eliminating premium increases, providing health insurance for previously uninsured individuals, and reducing overutilization of unnecessary health care services. The result has been more increased personal responsibility and higher engagement in maintaining health and seeking the best value for the health care dollar being spent, all without having a negative effect on health outcomes. Implementing the suggested policy changes to the HSA would simply cripple one of the few health care reforms that are accomplishing the President's stated goals for health care reform." (Council for Affordable Health Insurance)

[Opinion] Curbing Flexible Spending Accounts Could Help Pay For Health Care Reform
Excerpt: "Congress should consider scaling back or eliminating health care flexible spending accounts (FSAs) as part of its effort to pay for health care reform. This paper, which is part of a series of papers on proposals to help pay for health reform, outlines several ways in which Congress could curtail FSAs." (Center on Budget Policies and Priorities)

[Guidance Overview] Bureau of Labor Statistics Data on Employee Access to 'Other Types of Benefits,' 1979-2008
Excerpt: "Table 3 also shows the percent of workers with access to 'other benefits' in 2008. . . . The benefits with the highest rate of worker access were work-related education assistance (50 percent) and employee assistance programs (42 percent). Among the benefits with lower access rates, 2 percent of workers in private industry had access to employer-provided personal computers for home use, and 3 percent of workers had access to employer provided child-care funds." (U.S. Bureau of Labor Statistics)

[Guidance Overview] Health Savings Accounts: Inflation-Adjusted Limits Are Released for 2010
Excerpt: "Under the HOPE Act, the following other changes were also made to the HSA rules: Larger Contributions for Non-Highly Compensated Employees . . . . One-Time Rollover from FSA or HRA . . . . Maximum Contribution if Eligible During the Last Month . . . . One-Time Rollover from IRA . . . ." (Deloitte via BenefitsLink.com)

[Opinion] Are CDHPs/HSAs Ready to Battle a Public Health Plan?
Excerpt: "In an attempt to resurrect CDHPs' standing and make them part of the healthcare reform debate, two reports released over the past week from the health insurance industry promote the idea of health savings accounts. But health insurers need more than just surveys given the heightened interest of a public health plan in Washington. The industry must improve on CDHP tools, such as cost and quality Web sites, real-time claims adjudication, and member outreach, in preparation of competition from a public health plan." (HealthLeaders Media via HCPro, Inc.)

Senate Committee Unveils Proposal for Modifying HSAs Under Health Reform
Excerpt: "A policy option paper released by the Senate Finance Committee on May 19 discusses proposed health system savings and revenue options, including modifications to HSAs. . . . The full document, Financing Comprehensive Health Care Reform: Proposed Health System Savings and Revenue Options, can be viewed at http://tinyurl.com/pc579e." (AISHealth.com)

[Guidance Overview] 2010 Minimums and Maximums for Health Savings Accounts Plans and High-Deductible Health Plans
Excerpt: "On May 14, 2009, the Internal Revenue Service (IRS) released Revenue Procedure 2009-29,1 which announced various inflation-adjusted amounts for 2010 for Health Savings Accounts (HSAs) and High-Deductible Health Plans (HDHPs). The IRS calculates the annual adjustments using the 12-month period ending March 31." (The Segal Group, Inc.)

[Guidance Overview] The 2010 HSA Contribution Limits and HDHP Minimum Deductibles and Out-of-Pocket Maximums
Excerpt: "EBIA Comment: The inflation-adjusted figures announced in this revenue procedure are not effective until 2010, but those working with HSAs and HDHPs will be glad to have these figures now as they plan both benefits design and employee communications for the coming year. On a related note, the annual catch-up contribution limit (for HSA-eligible individuals who are age 55 or older), set by statute, remains at $1,000 for 2010." (Employee Benefits Institute of America)

[Official Guidance] Text of IRS Rev. Proc. 2009-29: 2010 Inflation-Adjusted Amounts for Health Savings Accounts (PDF)
2 pages. Excerpt: "For calendar year 2010, the annual limitation on deductions . . . for an individual with self-only coverage under a high deductible health plan is $3,050. . . . [F]or an individual with family coverage under a high deductible health plan [it] is $6,150. . . . For calendar year 2010, a 'high deductible health plan' . . . [is] a health plan with an annual deductible not less than $1,200 for self-only coverage or $2,400 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $5,950 for self-only coverage or $11,900 for family coverage." (Internal Revenue Service)

Estimated Income Characteristics of HSA Accountholders in 2008 (PDF)
12 pages. Excerpt: "Although accountholders in all neighborhood income ranges used their HSAs, those in higher income ranges tended to make larger deposits and withdrawals. For example, during calendar year 2007 accountholders residing in areas with median incomes between $25,000 and $50,000 (in 1999 dollars) experienced average HSA inflows (personal deposits, employer contributions and interest earnings) of $1,401 and average outflows (personal spending and fees) of $936. For accountholders in neighborhoods with median incomes between $75,000 and $100,000 (in 1999 dollars), average HSA inflows in 2007 were $2,083 and average outflows were$1,320." (America's Health Insurance Plans)

January 2009 Census Shows 8 Million People Covered by HSA Qualified High-Deductible Health Plans (PDF)
16 pages. Excerpt: "The number of people with HSA/HDHP coverage rose to 8.0 million in January 2009, up from 6.1 million in January 2008, 4.5 million in January 2007, and 3.2 million in January 2006. Between January 2008 and January 2009, the fastest growing market for HSA/HDHP products was large-group coverage which rose by approximately 35 percent, followed by small-group coverage which similarly rose at 34 percent." (America's Health Insurance Plans)

Workers Want to Know How CDHPs Work for Them, Not the Company
Excerpt: "Of course, we know that communication is critical to launching these plans and getting employees to enroll, especially when traditional options are still on the table. Where I see companies stumble is in keeping too much focus on the big picture instead of really explaining what the plans mean for individual workers. You can be guaranteed that eyes will glaze over at the first mention of the 'millions of dollars' spent on health care. You can explain the company's investment in health care and the dollars added to each individual employee's salary in the form of medical benefits. And, you can use examples and simple profiles to show how the plans work and their value, without overwhelming employees with facts and figures. In-person (or virtual) meetings are of huge benefit too -- don't just pile on the print materials and expect employees to dig through it all." (Employee Benefit Adviser)

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