By Ric Joyner, MBA, CEBS, GBA, CFCI
The new governor of WI, Scott Walker, has just confirmed to the new association of Wisconsin Employee Benefit Advisors that he is calling a special session to have HSAs be pre-tax from WI State Taxes. This is great news since because were issues with payroll from state to state and this increases the attractiveness of HSAs for WI employees!
“…There will be a special session in early January and Governor-Elect Walker will include the tax deductibility of HSA’s during this special session…”
Mike Farrell, WEBA President mikeatcipco.cc
For full article from WEBA Newsletter
Confirmed by Consumer Driven Market Report #9
“Wisconsin HSA Fix Under New Governor Wisconsin residents will see lower health care costs under a proposal from Governor-elect Scott Walker to end taxation of health savings accounts. Walker will introduce the HSA tax cut as part of the “Wisconsin is Open for Business Special Session” in January. Wisconsin is one of the last states in the nation to tax HSAs.”
For those of you who live in a state that does not allow HSAs to be exempt from State taxes my advice would be to get involved if you have a new governor. Be pro-active versus reactive.