Health Savings Accounts - Documentation Requirements

[Christine Roberts]

If these savings vehicles become as popular as they are predicted to be, it would be nice to have some clue as to documentation requirements.

I don't know how the HSAs will be documented themselves but I would expect that ERISA would require at minimum a "wrap" summary plan description outlining the high-deductible plan that is linked with the HSA, and the HSA features.

Any comments/suggestions.......?

[GBurns]

Without actual law and/or Treaury Regulations etc don't you think that any comment would be pure speculation at this point and would probably create wrong impressions.

[Steve72]

Well, Treasury regulations won't affect the ERISA reporting requirements. If sponsored by an employer, the HSA would probably be subject to the same SPD and documentation requirements as other ERISA plans (e.g., health FSAs). As you point out, the high-deductible insurance plan would also be subject to the requirements. They could probably be "bundled" for documentation purposes, like other welfare plans.