Health Savings Accounts (HSAs): Compliance Obligations Under the Internal Revenue Code and ERISA

One of the advantages of participating in a high deductible health plan is the ability to open a Health Savings Account (HSA). Although HSAs have numerous tax advantages, it is easy to inadvertently fail to satisfy the requirements for an HSA and possibly miss out on these benefits. In addition, the often complex employer health care offerings, which may include flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), can make it difficult to determine when an employee is eligible to participate in an HSA. This content will help health plan administrators navigate this sometimes treacherous terrain.