Health Savings Accounts: Financial Institution vs. Customer Responsibility
While many financial institutions have offered custodial retirement accounts like IRAs for years, the custodial Health Savings Accounts have some major differences as far as the institution’s responsibility in handling transactions.
Some institutions take on too much “policing” of HSA transactions – like making sure withdrawals are “qualified” and making judgement calls that are not their responsibility to do so. Other institutions treat their custodial HSA accounts as “just another DDA account” and do not verify contribution types. This can result in a lot of incorrect reporting to the IRS.
The question becomes, “Where do we draw the line between institution responsibility and customer responsibility?” In this two-hour informational webinar, we will answer these questions and make suggestions on how to handle your HSA accounts with less stress.
What You’ll Learn
Who Should Attend
This session is ideal for any CSR or teller who opens and processes HSA transactions, the operations department, and call center personnel who answer customer questions regarding the HSA rules and regulations.
