Author: Itamar Romanini

HSA Transactions and Impact to Taxes

Here’s something we are often surprised to find out as we dive deeper into how HSA providers handle this topic:  – most make mistakes when handling reversals. Sure, everyone knows most credits are contributions, and those count towards the annual max.  And here starts another challenge, not all will enforce the statutory maximum contribution limit.  This means, they […]

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VC and PE investments in HSA and CDH administrators and TPAs.

Mitigating investment risk and maximizing growth. The benefits accounts market, namely HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), and HRAs (Health Reimbursement Arrangements) has been growing and getting plenty of attention in the recent years, driven primarily due to the growth in HSAs.  According to Devenir, one of the largest HSA investment solutions providers, […]

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Certificate of HSA Operational Compliance to First Dollar

HSA Consulting Services hereby Issues this Certificate of HSA Operational Compliance to First Dollar. HSA Consulting Services performed an extensive review of First Dollar’s operations and processes, to assess its compliance with HSA rules and regulations around account establishment, transactions processing, statements and tax reporting, as well as proper handling of unique situations pursuant to IRS guidelines. We […]

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How’s your CIP/KYC program?

The Customer Identification Program (CIP), also known as “Know Your Customer“ (KYC), is a compliance component of the account opening process where bank trustees/custodians need to, put in simple terms, ensure that the customer is who they say they are.  This is easy to do in person, when they are face to face with the customer at a branch.  HSA providers have many […]

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