Q.- We offer a high deductible health plan with health savings account. We forward employee contributions to the HSA vendor but do not have any information about claims reimbursements. That is all done by the vendor. One of our employees asked our HR department about a tax form for filing his income taxes. Is there a tax form for HSA participants?
A.- Yes. When filing taxes, employees must include IRS Form 8889 if the employee (or someone on the employee’s behalf) made contributions to an HSA, or if the employee received HSA distributions for the year. Presumably the HSA vendor will issue Form 8889.
Benefit Allocation Systems (BAS) provides best-in-class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).
