Common use of Roles and Relationships Clause in Contracts

Roles and Relationships. Employer is the sponsor of a high deductible health plan (“HDHP”) that is compatible with health savings accounts (“HSAs”), as defined in §223 of the Internal Revenue Code (“Code”). Employer, as permitted by DOL FAB 2004-01 and 2006-02, desires to (i) facilitate the opening of HSAs for or on behalf of eligible employees (each, an “Account Holder”), (ii) make Employer contributions and forward employee payroll reduction contributions to HSAs owned by Account Holders, and (iii) pay certain fees related to HSA implementation and maintenance. HQY is an IRS authorized non-bank trustee operating as a custodian of HSAs in accordance with the provisions of Code §223(d)(1)(B) and Employer has selected HQY as its preferred custodian for Account Holders.