IRS Guidance Paves Way for HSAs

On July 23, 2004, the Internal Revenue Service (“IRS”) issued Notice 2004-50 which provides even more guidance with respect to health savings accounts (“HSAs”). The 30 pages of guidance (which consists of 88 questions and answers) can be accessed by clicking on the following link: http://www.irs.gov/pub/irs-drop/n-04-50.pdf. In general, the Q&As give answers that will make it easier for employees and employers to find HSAs attractive health care options when combined with a high deductible health plan (“HDHP”).