10 Point Health Savings Account (HSA) Compliance Program
The Tango 10 Point Health Savings Account (HSA) Compliance Program is the only one of its kind. It forms a critical piece of your HSA program – helping you prevent and detect common compliance pitfalls to avoid fines and complicated tax and employee satisfaction problems.
- Prevent accounts from being opened without employees completing a multi-point eligibility survey
- Require employees who are Medicare-eligible due to age to specifically confirm that they are not enrolled in Medicare before allowing them to open an HSA, and attest yearly that they have deferred Medicare enrollment before they can continue to contribute to their HSA
- Block employees listed on an employer-provided Medical FSA or HRA census from opening an HSA
- Provide employer line-of-sight into open, pending and unopened HSAs, and only initiate contributions for open and duly established HSAs of current employees
- Monitor that contributions for employees are deposited into HSAs registered to their same SSN
- Prevent over-contributions based on an employee’s personal contribution limit
- Account for contributions that are deposited directly by the employee after-tax, made to another HSA, or added to a spouse’s HSA when calculating contribution limit
- Prompt employees to participate in a contribution limit interview and verification annually and upon enrollment
- Allow employee payroll deduction change requests at least at the frequency mandated by the IRS
- Provide segmentation of employees based on IRS contribution rules and census segment tracking for Section 125 testing
The ability of Tango to provide the controls listed is entirely dependent on the provision of accurate information by employer users and individual users of the Tango services. All rights and obligations by and between Tango Health, Inc. and any user of the Tango solution are controlled by Tango’s end-user license agreement. Tango will not be liable for any losses incurred as a result of tax or compliance issues experienced by any user of the Tango solution, unless otherwise stated in the applicable end-user license agreement between Tango and a user of Tango’s services.