If you're really tuned into the world of Health Savings Accounts (HSAs) and High Deductible Health Plans this whole ‘Grab Bag' concept is yesterday's news to you.  That said, most folks reading this have probably never heard of it and I, while I have heard of it and perused it, have been avoiding it like the plague.

Despite of its thought provoking and generally stimulating name, ‘Grab Bag,' the thing is what it is.  It is also known as IRS Notice 2008-59.  I know the mention of the IRS causes many to break out in a cold sweat. 

For me, anything over about a page long causes me to break out in a cold sweat.  And this little baby is 28 pages of Q&A including a table of contents 3 pages long. 

The purpose of the document, issued by the Department of the Treasury and the IRS jointly is to clarify some outstanding questions regarding Health Savings Accounts (HSAs) and in some cases, throw a few new rules at us.  Generally speaking, clarification is good.   Next time they get around to issuing guidance on Health Savings Accounts, we will have a new administration, so this will be it under Bushy's watch.

Now the reason I've been avoiding this sucker like the plague is because anything over a page long is hard.  So you can imagine the general clinching that took place when I saw the table of contents.  It has taken me nearly a month to begin making an attempt to wrassle this monkey to the ground.

Rather than draft a 100 page article, it probably makes sense to break this puppy down into kibble sized bits and serve up the tastiest morsels one at a time.  If you'd like to study ahead, feel free to click on the link above.  If not, and I can hardly blame you.  Come back and read the next installment of The Gradock Bulletin.  We'll try to pick the most relevant parts of it to discuss and if possible we'll "put a little pepper on it slightly. "