Simplified Explanation of New HSA Regulations
The following summarizes each of the changes in the new HSA regulations and provides examples to help in your understanding of how the changes are applied. There are requirements in the regulations that need to be considered and these are highlighted as well.
December 29, 2006 · Categories: General, HSA, HRA, FSA, Consultants · Read article »
President Bush signs Health Opportunity Patient Empowerment Act of 2006
December 20, 2006 Washington, DC- President George W. Bush signed the Health Opportunity Patient Empowerment Act of 2006 today, enhancing Americans' access to tax-advantaged health care savings. The law, part of the Tax Relief and Health Care Act of 2006, provides new opportunities for health savings account (HSA) participants' to build their funds.
"Health savings accounts are improving the way Americans obtain the care they need. This bill makes HSAs more flexible and makes it easier for participants to put money aside for their personal health care funds," said Treasury Assistant Secretary for Tax Policy Eric Solomon.
December 20, 2006 · Categories: General, HSA, Consultants · Read article »
IRS Provides Transition Relief for Debit Card Changes
After receiving input from the industry, the IRS released Notice 2007-2 that provides transition relief for using the Benefits Debit Card at grocery stores, discount stores and wholesale clubs announced in Notice 2006-69.
December 19, 2006 · Categories: General, HRA, FSA, Consultants · Read article »
Health Savings Account Provisions included in The Tax Relief and Health Care Act of 2006
HEALTH SAVINGS ACCOUNT PROVISIONS
The Tax Relief and Health Care Act of 2006 also contains a package of provisions designed to improve Health Savings Accounts (HSAs).
The bill passed both the House and Senate on Saturday and is now on its way to President Bush for signature.
December 8, 2006 · Categories: General, HSA, HRA, FSA, Consultants · Read article »
H.R. 6408 Tax/Health Package Bill Introduced by Chairman Thomas
Thursday, December 7, 2006
WASHINGTON Today, Ways and Means Chairman Bill Thomas (R-CA) introduced H.R. 6408, the Tax Relief and Health Care Act of 2006. The bill reflects a compromise between House and Senate negotiators on legislation critical to American taxpayers.
This legislation is a bipartisan compromise that is must-do work in Congress this year. It will prevent tax increases on millions of Americans and improve the Medicare program and use of taxpayer money, said Thomas. This is a good compromise that I hope to see the President sign into law before the end of the month. I urge my House and Senate colleagues to approve it quickly. The House is expected to consider this legislation in the near future.
December 8, 2006 · Categories: General, HSA, HRA, FSA, Consultants · Read article »