Surgent's Ins and Outs of Health Savings Accounts

Overview

Health savings accounts (HSAs) are an effective way for employers to provide employees with financial help so they can pay their out-of-pocket medical expenses in a tax-efficient manner. Individuals who are not participating in an employer-funded HSA may set up their own HSA to achieve the same ends.

Clients often ask tax practitioners about the mechanics of HSAs and whether they are beneficial. This program is a two-hour discussion of the topic led by Roy Ramthun, who will take you through the many rules and complexities of this challenging subject.

Prerequisites

Basic knowledge of individual income taxation

Objectives

• Understand how an HSA works and who can set one up
• Recognize why an employer would want to set up an HSA for its employees
• Describe how enrollment in Medicare affects an HSA

Highlights

• Benefits of an HSA
• How an employer sets up an HSA
• How individuals qualify to set up an HSA
• High deductible health plans and how they relate to an HSA
• Eligible medical expenditures
• Annual contributions to an HSA
• Importance of enrollment in Medicare
• Qualified HSA funding distribution