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IRS finalizes COBRA, HIPAA and HSA penalty reporting, clarifies HSA comparability rules

Final IRS rules require filing Form 8928 to report and pay excise taxes for violations of HIPAA portability, COBRA, or comparability rules for employer contributions to health savings accounts (HSA) outside of a cafeteria plan or to Archer medical savings accounts. The regulations also clarify certain HSA comparability rules, including the allowance for some higher-paid employees and contributions for midyear plan entrants. The new requirements and clarifications apply to filings due and employer HSA contributions made on or after Jan. 1, 2010.  (Select News, 2 Oct 2009)


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