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Compliance Update For The New HSA, FSA, Debit Card, and HIPAA Rules Issued Dec 2006 Training Class |
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Compliance Update For The New HSA, FSA, Debit Card, and HIPAA Rules Issued Dec 2006 Training Seminar
In the last two weeks of 2006 several new laws and requirements were passed.
This presentation will describe:- The key provisions of the new HSA law that was signed on December 20
- The important December 14 IRS notice on the use of debit cards in health care reimbursement plans
- The December 13 final HIPAA non-discrimination and wellness program regulations
- The scary story about what happens to non-compliant vendors and health care reimbursement plan sponsors when the government catches up with them (December 15, 2006 - United States v. Carmelo Zanfei, et. al.)
Here are the highlights of this timely webcast:
New HSA Rules:
In an effort to foster further growth of Health Savings Accounts, President Bush signed the Health Opportunity Patient Empowerment Act as part of the Tax Relief and Health Care Act of 2006. The new law:
- Provides a window of opportunity for a limited, one-time rollover from FSAs and HRAs into an HSA
- Provides for a one-time rollover from an IRA to an HSA
- Makes it easier for FSA participants in the plan's grace period to have an HSA
- Increases the potential maximum annual HSA contribution
- Increases the HSA contribution for participants who join a High Deductible Health Plan after a year has started
- With respect to employer contributions, permits reverse discrimination in HSAs
New, Beneficial Debit Card Rules for Certain Non-Health Care Vendors:
Before IRS Notice 2006-69 (July, 2006), the use of a debit card for the purchase of over-the-counter drugs was prohibited at non-health care merchants such as supermarkets, discount stores, and wholesale clubs. In response to numerous requests, this IRS Notice introduced a new concept to allow the purchase of over-the-counter drugs using a debit card at such stores. The new concept was called the "Inventory Information Approval System".
While this concept was favorably received, in reality, very few of these merchants have an existing Inventory Information Approval System in place, and it appears that it will take some time for them to be developed. As a consequence, on December 14, the IRS issued Notice 2007-2. Among other things, this Notice:
- Provides limited, transitional relief to debit card programs with respect to the purchase of certain over-the-counter drugs at such merchants and vendors, and
- Describes new debit card rules that will take effect in 2008 and in 2009 for both non-health care vendors and for drug stores
In several recent informal comments, the IRS has strongly intimated that it is losing patience with plans that do not follow the letter of the debit card rules.
As such, you won't want to miss this opportunity to learn about the new rules and what the IRS envisions for an acceptable Inventory Information Approval System. Our handy debit card compliance flow charts - provided to attendees - will help you make sure that you are ready for these changes and that your plan is in compliance!
HIPAA Non-Discrimination and Wellness Rules:
The Department of the Treasury, the DOL, and the Department of Health and Human Services issued proposed and interim HIPAA regulations in 2001. On December 13, 2006, final HIPAA regulations were released.
As stated in the preamble to the regs, the final wellness plan rules are "intended to be easy to satisfy" for "reasonable" plan designs, while at the same time prohibiting "bizarre, extreme, or illegal requirements". These final regulations modify some of the rules as they impact nondiscrimination in health care plans and wellness programs.
If you have, or are considering a wellness plan, find out how the rules have been liberalized to help you offer effective, cost-control programs for your employees.
Very Strong Health FSA Enforcement Action Taken by the U.S. Department of Justice:
In addition to the above breaking news, we will also tell you about a successful action by the U.S. Department of Justice (DOJ) to severely penalize the provider and administrator of a non-compliant health care reimbursement plan, as well as two employers who implemented this plan.
You will want to hear about this development because the DOJ has promised aggressive action against many other employers who adopted this plan, and the implications for following the letter of the law are sweeping for all expense reimbursement plan sponsors and their administrators.
Don't miss this opportunity to find out about these important year end developments that will impact your benefit plan design, administration, and compliance initiatives. Register today!
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Price |
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$189.00
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