Health Savings Accounts and Reg E

Answered by:

Question:

Are Health Savings Accounts tied to debit cards covered by Reg E?

Answer:

No, an HSA is similar to an IRA: "2. Custodial agreements. An account held under a custodial agreement that qualifies as a trust under the Internal Revenue Code, such as an individual retirement account, is considered to be held under a trust agreement for purposes of Regulation E."

First published on BankersOnline.com 11/22/10