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ERISA is a friend of mine wins gold

If employee benefits compliance doesn't sound fun to you, then you haven't listened to ERISA is a friend of minea podcast hosted by the Compliance Services professionals from Lockton Benefit Group.

Join hosts Edward Fensholt, J.D., director of Compliance Services, and Scott Behrens, J.D., director of Government Relations, to learn the intricacies of the Employee Retirement Income Security Act (ERISA) and other employee benefits laws, one hilarious topic at a time. 

 

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Feb 4, 2019

Correction: Near the 13:50 mark we refer to a 6 percent excise tax for nonqualified distributions (withdrawals other than to reimburse qualifying medical expenses) from an HSA. The reference should have been to a 20 percent excise tax. The 6 percent tax applies to excess contributions to an HSA.

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No, it's not déjà vu, the HSA fun continues! Part two picks up where we left off in the last episode. Ed and Scott help you "give the karate chop to the tax man" by covering:

 

  • Eligibility requirements.
  • Contribution maximums and limitations.
  • Employer responsibilities.
  • Pulling money out.
  • Prefunding and retrofunding.
  • The Dec. 1 rule.
  • And more.

 

The phenomenal white paper by Scott about HSA funding mistakes is available here.

All the technical details about HSAs straight from the horse’s mouth (IRS) can be found in Publication 969.