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HSA Products: Spiraling Traps for Unwary Participants
INNOVA BENEFIT Services, LLC Link to more items from this source
July 17, 2014
"When the employee's compliance and tax ramifications are on the hook, employers choose custodians who distribute funds, upon employee request! ... How many save properly itemized receipts? How many accountholders know the ins/outs of 213(d) eligible expenses? How many save properly itemized receipts? If receipts are saved, are they archived and accessible for the long haul, say 20 years? How many even understand that documentation and compliance are completely their responsibility? How many executive accountholders (who are using HSAs as a supplemental retirement savings plan for post-retirement) understand that they will need a long documented history to support eventual distributions?"

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