1/13/2007
Terry Frett – Frett/Barrington Limited: Health Savings Accounts
President Bush has recently signed the Health Opportunity Patient Empowerment Act of 2006, a law that provides exciting new opportunities for health savings account (HSA) participants to build their funds. Tune in Saturday to hear Terry Frett, president and founder of Frett/Barrington Limited, discuss this new law and the effects it will have on employee benefit plans.
The Health Opportunity Patient Empowerment Act of 2006:
- Allow rollovers from health FSAs and HRAs into HSAs through 2011
- Increase in annual HSA contribution
- Full HSA contribution regardless of month individual becomes eligible
- One-time transfer from IRAs to HSAs
- Certain FSA coverage treated as disregarded coverage
- Earlier indexing of cost of living adjustments
- Allow greater employer contributions for lower-paid employees