The seminar will compare and contrast not only FSAs (Flexible Spending Accounts) but two plans that are less than two years old, i.e. HRAs (Health Reimbursement Arrangement plans) and HSAs (Health Savings Accounts). The seminar will concentrate on WHICH plans to use, WHEN you would use them, and WHY we would use one plan and not the other.
Topics to be discussed include the following:
- Health Savings Accounts
- Health Reimbursement Arrangement
- Flexible Spending Accounts
8:30 a.m. - 10:20 a.m.
I. Market Trends:
How much is too much the American perspective
Trends in the health care benefit market have evolved dramatically in the past decade and are anticipated to continue to evolve at a rapid pace. How did we get here and what can we expect in the future?
The speaker will provide perspective on the health care delivery and financing systems and their role in this evolution.
10:20 a.m. - 10:30 a.m.
10:30 a.m. - 12:15 p.m.
II. Health Reimbursement Arrangement (HRA)
Less than two years old, is much broader than HSAs. A major difference is that any money NOT spent by the employee may be rolled over to the next year. However, the employee can NEVER receive unspent money as cash. In an HSA, unspent money is available as CASH to the employee from day one. This section will discuss the taxation of the HSA money and the options available under the HRA.
The HRA has a much more liberal definition of eligibility. This section will also include the employee carve out options as to eligibility and amount of reimbursement available.
12:15 p.m. - 1:15 p.m.
Lunch (On Your Own)
1:15 p.m. - 3:15 p.m.
III. Flexible Spending Accounts FSAs
This section will concentrate on describing and implementing the various plans under Section 125. This will include premium only plans, Cafeteria Compensation, and a fairly new program commonly referred to as Flexible Benefits.
3:15 p.m. - 3:25 p.m.
3:25 p.m. - 4:30 p.m.
IV. Goodbye Medical Savings Accounts (MSAs), Hello Health Savings
This section will compare and contrast the main difference in the two programs. It will compare the old and new deductibles, contribution percentages, employee/employer contribution changes, and most importantly, the unlimited size of new eligible employers (it was 50, now no limit).
The speaker will present a matrix comparing these two plans, and add items as to eligibility and most important WHEN to use an HSA, as opposed to an HRA. Also the purpose of why the legislation was passed (make the employee more judicious in 'buying' healthcare).