DataPath Newsletter April 2004

April 2004 Volume III, Issue 1

Editor: Melissa Vinson

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About DataPath

Who We Are

Our Mission

Our Vision for Tomorrow

Let's Build a Relationship!

Our Strengths!

What People are Saying about DataPath

IRS Updates HSA Regs

On March 30, 2004, IRS issued further guidance on Health Savings Accounts (HSAs) and the new Code Section 223 in the form of Notice 2004-3, Notice 2004-25, Revenue Ruling 2004-38, and Revenue Procedure 2004-22. More guidance is expected to be released in the future.

The press release announcing this issuance stated that it was in response the industry's request for "more guidance on what is allowable as preventive care under a high deductible health plan and for clarification of the allowable interaction between the HDHP and prescription drug benefits". (If you like, you can view the press conference.) More . . .

DataPath's Solutions for HSAs

Yes, "Solutions" is plural. DataPath has developed three solutions for Health Savings Accounts (HSAs) to meet the unique needs of our users whether that need is to:

Level 1: Track the High-Deductible Health (HDHP) deductions and the HSA contributions,
Level 2: Track the insurance deductions and HSA contributions PLUS offer disbursement management, or
Level 3: Provide full HSA administration.

Following is how DataPath plans to implement these levels and the estimated time of release. More . . .

Start Planning Now for
DataPath's 2004 Annual Conference

Everyone enjoyed New Orleans so much last year, that we decided to return. Our conference will be held August 30 - September 1, 2004 at the Wyndham New Orleans at Canal Place. DataPath scheduled this conference earlier than previous conferences in response to requests from our users. Many of you found the later dates interfered with the year-end administrative tasks.

Come anticipating a very special Conference—a Conference celebrating DataPath's 20th Anniversary. DataPath wants to take this opportunity to honor our users who have made everything possible.More . . .

DataPath's Growing!!!

DataPath's growing—both in personnel and in space. During the last six months, DataPath has added four new employees, and plans to add up to ten more within a year, and even more the next year.
More . . .

What is Automatic Adjudication?

Automatic adjudication (auto-adjudication) was introduced when IRS issued Revenue Ruling 2003-43 (May 6, 2003) supplying guidance on for adjudicating Health FSAs and HRA claims when the participant uses an electronic payment card (such as myResourceCard^®) to pay for the expense.

Under this Ruling, expenses falling into three categories can be treated as automatically substantiated—that is, if the expenses are paid by a swipe of the card, no further substantiation or adjudication are required. More . . .

OTC Drugs Gain Eligibility under FSAs!

IRS Rev. Rul. 2003-1002 (Sept. 3, 2003) authorized the reimbursement of over-the-counter (OTC) drugs by Health FSAs, HRAs, and other employer-provided health plans. (However, OTC drugs are still not deductible on an individual's federal income tax form.) More . . .

A Voice from the Past

This is just to let my friends out there know that I am resuming the task of producing the monthly newsletter. I am working from the comfort of my home in Acworth, Georgia (outside Atlanta). Isn't it nice what computers and the Internet allow you to do.

Enjoy! Melissa Vinson

LEGAL DISCLAIMER: Material contained in this newsletter is not legal advice, and should not be construed as legal advice. If you need legal advice upon which you can rely, you must seek a legal opinion from your attorney.

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