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Health Savings Accounts - Annual Update and Review

Health Savings Accounts were signed into law over 15 years ago and they still seem to generate more questions than answers. It is pretty amazing the rampant abuse has not disqualified this product. What are the bank's responsibilities when it comes to correcting mistakes?

OnDemand
Recorded Friday,
February 25th, 2022
Presented by Patrice Konarik
2h total length
2.5 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Risk Management/Legal
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • New Accounts Representative
  • Teller
  • Trainer

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The Health Savings Account program was signed into law in 2004 to help relieve the financial burden caused by high deductible health insurance plans. As premiums skyrocketed back in the early 2000's, the "semi" cost-effective way of dealing with higher out-of-pocket expenses was to open a tax-deductible account earning tax-free interest when used for a qualified medical expense.

Over the last 15 years there have been many changes to HSAs so this annual update is a necessity when it comes to keeping up with the latest rules and regulations.

What You'll Learn

  • What are the HSA Cost of Living Adjustments for 2022?
  • What happens to a Family plan when one spouse enrolls in Medicare?
  • Are customers eligible to have an HSA if they dropped their health insurance?
  • What happens when an HSA owner dies?
  • What are the reporting requirements by the bank and the HSA Customer?
  • What are the new qualified tax-free medical expenses?
  • Who can use the funds in the HSA?
  • How are non-qualified withdrawals from an HSA taxed and penalized?
  • Is there a time limit for an HSA owner to be reimbursed from an HSA for out-of-pocket medical expenses?

Who Should Attend

All bank personnel involved in opening, processing and answering questions regarding Health Savings Accounts - including CSRs, Call Center Reps, Operations and Compliance.

Patrice Konarik

Instructor Bio

Patrice M Konarik is president of Sunwest Training Corp founded almost 30 years ago and is located in the Texas Hill Country near San Antonio. With over 40 years of experience in the financial industry, Patrice has focused her expertise on the retirement account area and after 28 years on the road providing live training nationwide, is now concentrating on providing informational IRA and HSA Webinars through OnCourse Learning. She has a BS in Management Science from New York’s Binghamton University and previously held her Certified Financial Planner Designation for 23 years.

Continuing Education Credit Information

Recommended for 2.5 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.

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