Palmer & Cay's Director of Compliance Services to Discuss Health Savings Accounts

CLEVELAND, Oct. 25 /PRNewswire/ -- On October 27, 2004 Ed Fensholt J.D., Palmer & Cay's practice leader for compliance services, will discuss Health Savings Accounts at the Embassy Suites on Rockside Woods Boulevard at 8:00 a.m. The seminar will review how employers can best utilize HSAs to benefit employees.

The morning's discussion will answer the following key questions: - What are HSAs and who can have them? - What is a High Deductible Plan? What isn't? - What are the guidelines on contributing to an HSA? By when? - How are the distributions from HSAs handled? - What can we expect in 2005 with HSAs?

Mr. Fensholt states, "Health Savings Accounts, which were approved last December, are poised to take-off. Employers are beginning to be asked by their employees: Why don't we offer HSA plans? HSA's are multifaceted involving medical plans, bank accounts, tax planning, and your personal health needs. Employers have an opportunity to provide employees the ability to save for future medical needs on a tax-free basis, but the opportunity comes at a cost. Employers need to modify their medical plan offerings and educate employees regarding their new responsibilities. The end results should be good news for both employees and employers, but there is a lot of ground to cover to get there. We are helping many employers navigate this new healthcare landscape."

Palmer & Cay is the nation's second largest privately held insurance brokerage and benefits consulting firm in the nation and employs approximately 1,100 associates in 38 offices throughout 22 states and the District of Columbia. In addition to insurance brokerage and benefit consulting services, Palmer & Cay provides risk management consulting, actuarial and retirement plan services, compensation consulting and human resource services to clients throughout the United States.

For more information contact Katie Hauer at 216.687.1267 or visit http://www.palmercay.com/ .

Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Edward Fensholt, JD http://www.profnet.com/ud_public.jsp?userid=345526

CONTACT: Katie Hauer of Palmer & Cay, +1-216-687-1267

Web site: http://www.palmercay.com/