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.
This course features a live instructor and has been specifically designed for the NJCPA.
Finance and accounting professionals who anticipate advising clients with respect to health care issues, and particularly the role and mechanics of HSAs
- 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
- 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
Basic knowledge of individual income taxation