PRODUCT SPOTLIGHT

For Infinisource Clients, the Future of HSAs is Now

The recently issued Final Regulations on Employer Comparable Contributions provide employers with greater flexibility with Health Savings Accounts (HSAs), and Infinisource is ready to assist employers and agents.

Essentially, when contributions are made through a cafeteria plan, employers can disregard the comparability requirements that contributions must be either the same amount or same percentage of the high deductible health plan (HDHP) deductible. The Final Regulations clarified that an employer contribution can be made through a cafeteria plan as long as the HDHP participant has the opportunity to make a pre-tax HSA contribution. Employer contributions are an excellent way to share HDHP cost savings with employees and encourage savings for health care. For more information on these regulations, you can read our previous article at:

www.benefitsolved.com/news/stories/new_review20060731.asp.

HSAs have grown in popularity during 2006, only their third year in existence. A recent Information Strategies survey predicted that by January, we should see about 3.6 million HSAs with over $5.2 billion in assets.

In August, the IRS released an updated list of approved non-bank trustees and custodians for HSAs and other purposes. Banks are automatically approved. Included on the list is Charles Schwab & Co., Inc., which has been approved since 1982. Schwab is the custodian/trustee of the HSA product offered by Infinisource.

Infinisource offers two innovative Health Savings Account options, which are powered by Alliance Benefit Group. The Standard HSA is designed for investing and the Premium HSA is designed for spending, yet still offers investment options.

Infinisource HSAs include:

• 11 investment options
• Online account investment tools
• ACH/check reimbursement
• Electronic data transfers that quickly update accounts
• Debit card (available with certain plans)
• No paper substantiation/adjudication by vendor
• Employee, self-serve, online account management
• Customer support through Infinisource and Alliance

For employers, the Infinisource difference is flexibility. Infinisource HSAs are not tied to any specific high deductible health plan, so employers have the freedom to change their primary health plan and keep their HSA plan.

For more information on how an Infinisource HSA can benefit you or your clients, please contact our Sales Team at 800-779-6384 or visit us on the web at www.benefitsolved.com.

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