HSA SPD

[Guest Chuck Stoll]

Does anyone have an SPD for an HSA? The only one I have seen is for a combination PPO/HSA, but I'm supposed to come up with and HSA only.

[SLuskin]

An HSA is just a trust account. How could it have an SPD? It is the underlying health insurance plan that would have the SPD.

[QDROphile]

Perhaps "SPD" is simply meant to mean an information or disclosure document. Most arrangements need them for some purpose, even if the arrangements are not subject to the formalities of ERISA.

[Ron Snyder]

Check with the financial institution acting as trustee or custodian of the HSA. An HSA is a form of IRA, and any disclosure would be similar to that available for IRAs.

[GBurns]

That an HSA has the funds held in a Trust should make no difference. So could and so do some FSAs.

An HSA like an FSA or HRA should have an SPD explaining coverage, exclusions, limitations, claims procedures etc etc.

Try www.hsainsider.com or similar sources includimh HSA providers and Trustees.

[mbozek]

The legislative history of IRC 223 states that HSAs are subject to rules similar to those applicable to IRAs. There is no reference to SPDS or any other notices outside of w-2 reporting. Any ins purchased by an employer would be subject to the applicable SPD requirement if provided by an employer. I dont know what would be in an SPD for just the HSA since the employee has control over disbursement of the funds and there is no claims procedure, eligibility or other info normally found in an SPD.

[g8r]

I'd suggest using the language in IRS form 5305-C (link below) or B (for trusteed HSA). As pointed out, an HSA is very close to an IRA (with obvious differences in contribution limits and tax effects). But, it belongs to the individual just like an IRA. Thus, there is no SPD requirement - the IRS HSA forms are all that is needed. Maybe the IRS publications will also help (publication 969 - also cited below).

http://www.irs.gov/pub/irs-pdf/f5305c.pdf

http://www.irs.gov/pub/irs-pdf/p969.pdf