White Paper

2 Pages
  • 2 Pages

Health Savings Account for Banks: Risks and Rewards

 

Review the problems with HSAs and possible solutions.

HSAs are stable, relationship-based deposits that may also generate monthly service fees, investment management fees, and interchange fees for banks, insurance companies and IRS approved non-bank custodians. While many banks offer HSAs as a retail product to walk-in customers, they are less engaged in the market for employment-based HSA programs. Employer-based HSA programs are where the true potential lies for HSA custodians, but they present special challenges. This white paper reviews the risks and rewards of HSAs for banks.

Agenda

Faculty

Mark J. Kinney

Mark J. Kinney

Kinney & Larson LLP

  • Employee benefits attorney with 25 years of experience designing products and services for the health care industry
  • Worked with a large national bank to bring the first HSAs to market and represents some of the largest SHA custodians in the country
  • Drafted and negotiated nearly every contract commonly used by HSA custodians, third party administrators, investment advisors, and online platform providers
  • Interpreted and applied the large and growing body of regulatory guidance on HSAs to a wide range of issues, but with a focus on product development in the HSA industry
  • Advises venture-funded health care startups, third party administrators of self-funded group health plans, and vendors of wellness programs, cafeteria plans, and COBRA services
  • Represents a health care consortium of over 400 cities, counties and school districts
  • J.D. degree, William Mitchell College of Law; M.B.A. degree, Claremont Graduate School; Double major in economics and english, St. John’s University
  • Can be contacted at [email protected]

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