Products May 1, 2009

Treasury Releases HSA Basics Pamphlet

The U.S. Treasury Department released a brochure that explains the basics of health savings accounts (HSAs).
Reported by

The HSA Basics tri-fold covers a variety of topics about the HSA system including:

  • who can have an HSA;
  • the high-deductible health plan (HDHP) coverage necessary for HSA eligibility (including minimum annual deductibles and maximum out-of-pocket expense limits);
  • HSA contribution limits, including catch-up contribution limits for those age 55 or older (with examples);
  • HSA distributions (and the federal income tax consequences of using such distributions to pay for medical or nonmedical expenses);
  • the income tax and other advantages of HSAs;
  • the treatment of HSAs after the account holder’s death.

The brochure is available for download here.

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Additional Treasury Department information about HSAs is available here.

Deals & People May 1, 2009

NY RIA Joins with Money Manager

Registered investment adviser Beck, Mack&Oliver, acquired Austin Investment Management, Inc.
Reported by

Both firms are New York-based. A news release said the newly combined entity manages more than $3.1 billion, including high-net-worth investors, endowments, foundations and employee pension plans.

Beck, Mack & Oliver has specialized in managing customized core U.S. equity portfolios, according to the release. Austin Investment Management manages separate accounts as well as a global equity mutual fund.

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Terms of the transaction, effective April 10, were not disclosed.

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