Program Description:
Congress recently passed legislation that allows individuals to accumulate dollars and to pay for nearly all medical care on a pretax basis. This new legislation, Health Savings Accounts (HSAs), is patterned after Individual Retirement Accounts. HSAs allow individuals to fund an account on a pretax basis and then to use those funds to pay for medical costs. Dollars that are not used for medical costs may be saved and accumulated from year to year or may be spent on non-medical costs, subject to taxation and penalties.
What You Will Learn:
- Why banks should be interested in offering HSAs to their customers
- Who is eligible to have an HSA
- How contributions may be made to an HSA
- How distributions may be made from an HSA
- Custodial responsibilities for banks and financial organizations
- Penalties for noncompliance by the individual account holder and custodian
- Updates for recent IRS regulatory issuances
Who Should Attend:
Bank executives seeking to find new sources for deposits, bankers who open new accounts for customers, and individuals who work with customers interested in accumulating funds on a tax-advantaged basis.
Presenter:
Scott Becker, Esq. is a licensed attorney in Lakeville, MN. He has taught a variety of classes on banking and benefits topics since 1995 and concentrates much of his practice on employee benefits, corporate work, and retirement planning. His relaxed style and ability to relate to his audience with up-to-date information and anecdotes make him a particular favorite for groups that have attended his classes.
Registration Information:
Fax or mail this registration form, or register online, by March 9, 2007.
Make checks payable to Center for Financial Training (CFT). Withdrawals made prior to the registration deadline will receive a full refund or a credit toward a future CFT seminar. Withdrawals made after the registration deadline will not receive a refund or a credit. Substitutions may be made at any time. No-shows will be charged the full amount.
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