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Article: EAPA trying to ensure EAPs dont't run afoul of new health savings accounts.(Employee Assistance Professionals Association)(Employee assistance programs)
- Article from:
- The Journal of Employee Assistance
- Article date:
- September 1, 2004
CopyrightCOPYRIGHT 2004 Employee Assistance Professionals. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Employee Assistance Professionals Association is working with Internal Revenue Service (IRS) officials to ensure that workers who qualify for health savings accounts do not lose access to EAPs.
Heath savings accounts (HSAs), which were created under the Medicare prescription benefit legislation signed into law in December 2003, allow employers and employees to contribute pre-tax money to pay for future medical expenses. Individual workers own their accounts and keep them even if they lose or change jobs. Money invested in the accounts can be carried over from year to year.
To be eligible for an HSA, an employee must be covered by a "high deductible ...