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Health Savings Account (HSA) for Banks

Gain a better understanding of how HSA rules are applied when contributions are made through employers.

Health Savings Accounts (HSAs) may be offered by banks, insurance companies and certain IRS approved custodians. According to Devenir Research, there were 25 million HSAs at the end of 2018, an increase of 13% over 2017. These are stable, relationship-based accounts that generate monthly service fees as well as deposits. While many financial institutions offer retail HSAs to walk-in customers, growth in this industry is driven by employers that select single HSA custodians to receive all of their employees' pre-tax payroll contributions. Financial institutions that wish to grow HSA accounts must understand how HSA rules are applied when contributions are made through employers, along with roles and responsibilities of third party administrators, online administration platforms, investment advisors, brokers, and investment subcustodians.

Runtime: 87 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

HSA Product Overview

  • A Brief Introduction to HSAs (and Why They're Terrific)
  • Guidelines for Accountholders
  • Guidelines for Employers
  • Guidelines for HSA Custodians

Roles and Responsibilities for HSA Custodians

  • Employer Enrollment and Contribution Agreements
  • Practical Considerations for Custodial Agreements
  • Required Disclosures, Tax Reporting, Permissible Investments
  • Industry Players: Online Platforms, Investment Advisors, Clearing Brokers, Investment Subcustodians

Risks and Rewards

  • Pending Deposit Broker Rules
  • Problems With HSAs and High Deductible Health Plans; Possible Solutions
  • HSAs and Public Policy; Long-Term Viability
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on July 30, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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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Product ID: 405831
Published 2019
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