The Health Savings Account (HSA) Council is an organization of banks, insurers and technology leaders committed to increasing the adoption velocity of health savings accounts in the United States. The HSA Council represents its members before Congress, the White House and U.S. Courts in order to preserve the ability of Americans to pay for healthcare using an HSA.
Subscribe to the HSA Update: go to the ABA E-Mail Bulletins site and select the HSA Update E-Mail Bulletin.
HSA Council's List of Congress Legislation: For the 114th Congress, includes legislation the Council supports and opposes.
HSA News Highlights
HSA Council Cadillac Tax Comment Letter to IRS
In response to the IRS released Notice 2015-16, which states that the total dollars spent by an employer – premium and contributions to the HSA, even if those contributions are from the employee and merely facilitated by the employer – are counted towards the threshold for the excise tax, the HSA Council submitted a comment letter detailing why employee contributions should be excluded from the calculation. Read the Letter.
Optum's Sixth Annual Wellness in the Workplace Study
Released April 2015, this study is based on responses of 545 employers that offer wellness programs. The finding include, "The most prevalent (used by at least 79%) incentive-eligible wellness programs feature health biometric screenings, health or fitness challenges, health risk assessments and tobacco cessation...The most prevalent incentive mechanisms include company contributions to HSAs, HRAs or HIAs (38%); [and]...The average value of incentives is $414." Learn more
Department of Labor Fiduciary Standard Proposed Rule
The DOL requested comments on their Conflicts of Interest Proposed Rule
. Comments Due July 6, 2015. From the Preamble, “The Department notes that these [HSA] accounts are given tax preferences as are IRAs. Further, some of the accounts, such as HSAs, can be used as long term savings accounts for retiree health care expenses...Accordingly, these accounts are included in the scope of covered plans in paragraph (f)(2) of the new proposal. However, the Department solicits specific comment as to whether it is appropriate to cover and treat these plans under the proposed regulation in a manner similar to IRAs as to both coverage and applicable carve-outs.”
Join the HSA Council at the 2015 IHC Forum East
The HSA Council is hosting a pre-conference Lunch and Learn on Tuesday June 23rd on HSAs in private exchanges. Kevin McKechnie, HSA Council Executive Director, will be a panelist on the June 25th afternoon General Session. He will be joined by HSA Council Board members as they discuss HSA compliance issues. Attend the Forum.
The HSA Council is dedicated to advancing policies that preserve and expand banks’ ability to offer Health Savings Accounts. Its members include financial institutions, insurers and their technology partners.