|
#3
12-23-2003, 11:04 PM
| |||
| |||
 Health Savings Accounts Update A.G. Kalman wrote: - quote - > The recently enacted Medicare Prescription Drug and
The Treasury and IRS have issued guidance on HSAs. The> Modernization Act (PL 108-173) contains provisions that > create a new tax incentive for health and retirement > security called Health Savings Accounts (HSAs). > See Title XII, Section 1201 of the Medicare Act for the text. > http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.1.ENR: > The website www.benefitslink.com has posted an excellent > analysis of the provision. It was prepared by the Employee > Benefits Executive Compensation group of Alston + Bird, LLP. > The document is in Adobe® Acrobat® format and may be found at: > http://www.benefitslink.com/articles...a-20031125.pdf > The US Treasury press release fact sheet is at: > http://www.ustreas.gov/press/releases/js1045.htm first link below is to the Treasury Press Release. The press release has the links to the documents or you can use the ones I have appended. http://www.treas.gov/press/releases/js1061.htm IRS Notice: http://www.treas.gov/press/releases/...otice20042.pdf Fact Sheet: http://www.treas.gov/press/releases/...afactsheet.pdf OPM (Office of Personnel Management) Press Release: http://www.treas.gov/press/releases/...essrelease.pdf -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#2
12-19-2003, 12:05 PM
| |||
| |||
| Re: Information on Health Savings Accounts Michael T Wing CPA wrote: - quote - > A.G. Kalman <agk202[at]netscape.net> wrote:
The Wall Street Journal had a pretty good analysis of the> > The website www.benefitslink.com has posted an excellent > > analysis of the provision. It was prepared by the Employee > > Benefits Executive Compensation group of Alston + Bird, LLP. > Thanks for posting that! > I am please to see that the HSA appears to be MUCH more > flexible than the old MSA. However, I'm still confused about > qualifying insurance. > I have a couple of clients with "indemnity" style medical > plans that pay stated amounts for days in the hospital and > scheduled surgical procedures. Since these plans do not have > a stated deductible or maximum out of pocket amount > (although such amounts can more/less be "inferred"), I > assume they wouldn't qualify for an HSA. This seems > unfortunate. > In fact, I guess I don't see why this should be tied to > insurance at all. And/or why not offer an "if you have no > insurance" option with a stated funding limit??? > Also, it will be interesting to see whether the major mutual > funds jump on this bandwagon. As I recall, most expressed NO > interest in offering MSA accounts. issues on Dec. 16th under the headline: Medicare Law Reaches the Under-65 Set, Too. Here's the link: http://online.wsj.com/search#SB107153846772819200 I think you can get free access to the article for 7 days past publication. (I'm a subscriber, so I may be wrong on this point!) -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
12-19-2003, 12:05 PM
| |||
| |||
| Re: Information on Health Savings Accounts A.G. Kalman wrote: - quote - > The recently enacted Medicare Prescription Drug and
Many thanks. This will be very helpful.> Modernization Act (PL 108-173) contains provisions that > create a new tax incentive for health and retirement > security called Health Savings Accounts (HSAs). > See Title XII, Section 1201 of the Medicare Act for the text. > http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.1.ENR: > The website www.benefitslink.com has posted an excellent > analysis of the provision. It was prepared by the Employee > Benefits Executive Compensation group of Alston + Bird, LLP. > The document is in Adobe® Acrobat® format and may be found at: > http://www.benefitslink.com/articles...a-20031125.pdf > The US Treasury press release fact sheet is at: > http://www.ustreas.gov/press/releases/js1045.htm Robert C. McRae, CPA Tyler, Texas << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
12-18-2003, 11:15 AM
| |||
| |||
| Re: Information on Health Savings Accounts A.G. Kalman <agk202[at]netscape.net> wrote: - quote - > The website www.benefitslink.com has posted an excellent
Thanks for posting that!> analysis of the provision. It was prepared by the Employee > Benefits Executive Compensation group of Alston + Bird, LLP. I am please to see that the HSA appears to be MUCH more flexible than the old MSA. However, I'm still confused about qualifying insurance. I have a couple of clients with "indemnity" style medical plans that pay stated amounts for days in the hospital and scheduled surgical procedures. Since these plans do not have a stated deductible or maximum out of pocket amount (although such amounts can more/less be "inferred"), I assume they wouldn't qualify for an HSA. This seems unfortunate. In fact, I guess I don't see why this should be tied to insurance at all. And/or why not offer an "if you have no insurance" option with a stated funding limit??? Also, it will be interesting to see whether the major mutual funds jump on this bandwagon. As I recall, most expressed NO interest in offering MSA accounts. MTW << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
12-17-2003, 08:46 AM
| |||
| |||
| Information on Health Savings Accounts The recently enacted Medicare Prescription Drug and Modernization Act (PL 108-173) contains provisions that create a new tax incentive for health and retirement security called Health Savings Accounts (HSAs). See Title XII, Section 1201 of the Medicare Act for the text. http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.1.ENR: The website www.benefitslink.com has posted an excellent analysis of the provision. It was prepared by the Employee Benefits Executive Compensation group of Alston + Bird, LLP. The document is in Adobe® Acrobat® format and may be found at: http://www.benefitslink.com/articles...a-20031125.pdf The US Treasury press release fact sheet is at: http://www.ustreas.gov/press/releases/js1045.htm -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| accounts, health, information, savings |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Performance of savings accounts Money 2005 Deluxe user: One problem that I keep running into with Money is that it has a very clear distinction between investment accounts and checking/savings accounts. ... | Microsoft Money | 2 | 03-31-2006 04:08 AM | |
| Handling of savings accounts and 401k accounts in the budget E9: I noticed that Money treats money that I contribute to a 401k account or transfer to a savings account as an expense. Basically, the more I... | Microsoft Money | 6 | 03-19-2006 12:44 PM | |
| Is it possible to create 'sub' accounts in a savings account? JoeMoney: In my (long term) savings account, I want to specifically put money aside for different "things" (e.g. christmas gifts, new car, TV, vacation, etc).... | Microsoft Money | 3 | 03-07-2006 05:47 PM | |
| Downloads checking account information into my Money 2006 Savings New Money 2006 user: I purchased and installed Money 2006 today. I have a problem. Everytime I import from my internet checking. It puts it into my Money savings... | Microsoft Money | 1 | 08-29-2005 05:27 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
