CUNA to Update CUs on HSAs
WASHINGTON - With talk of Health Savings Accounts on the rise, CUNA will host an audio-conference on HSAs on August 10 from 2:00 -3:30 p.m. EST. Approved as part of the Medicare Prescription Drug, Improvement and Modernization Act of 2003, HSAs are designed to help individuals save for medical and retiree health expenses on a tax-free basis. Any individual covered by a high-deductible health plan (HDHP) may establish an HSA. The audio conference will be divided into two parts, credit unions as fiduciaries and credit unions as employers, to help answer such HSA questions ranging from the steps CUS need to take to become a fiduciary for HDHPs and HSAs, to IRS requirements for CUs offering HSAs to employees. According to CUNA the audio conference will be available on cassette. Orders for the audiotape must be placed by the date of the audio conference and will be shipped within two weeks of the event.