HSAs, FSA, HRAs, and Voluntary Insurance Programs: ERISA vs. Non-ERISA Compliance

This CLE webinar will provide ERISA counsel with a review of the advantages and legal risks of health savings accounts (HSAs), flexible savings accounts (FSAs), health reimbursement arrangements (HRAs), and voluntary insurance programs for both employers and employees. The program will discuss ERISA compliance requirements for FSAs and HRAs, and how to structure HSAs to avoid falling under the purview of ERISA. The panel will also discuss the potential liabilities for employers if their HSA plans are subject to ERISA due to mistakes in plan structure.

In an era of increasing premiums and co-payments, employers are increasingly adopting arrangements to help employees with healthcare costs and to remain competitive in recruiting and retaining employees.

For employers with high-deductible plans, HSAs offer employees the ability to make pre-tax contributions to savings accounts for healthcare expenses and accrue tax-free earnings on the amounts they contribute. Voluntary insurance coverage is intended to provide employees with financial security when an adverse health event or accident occurs. Employers make the coverages available for purchase, but employees generally pay the entire cost of coverage. Voluntary insurance programs and HSAs may be exempt from ERISA, if the employer limits its involvement consistent with Department of Labor rules.

FSAs and HRAs are employee welfare benefit plans that must comply with ERISA requirements and other laws like HIPAA.

Listen as our authoritative panel of ERISA attorneys guides you through the benefits of HSAs, FSAs, HRAs, and voluntary insurance programs for employers and employees. The panel will discuss ERISA compliance requirements for FSAs and HRAs and how to structure HSAs to avoid falling under the purview of ERISA.