

Among them were rule changes providing no-cost coverage for COVID-19 testing and expanded benefits for Consumer-Directed Health Plans (CDHP).
The Families First Coronavirus Response Act, H.R. 6201, requires all health plans offered by employers and insurance carriers to cover the following at no cost to plan members:
At this time, the IRS has allowed qualified High Deductible Health Plans (HDHP) to pay for the treatment of COVID-19 prior to the annual deductible being met, however, it is not required. Details vary by plan so consult with your employer or your insurance provider for your specific coverage information.
This coverage requirement remains in effect only while there is a declared public health emergency as defined under federal law.
The CARES Act contains these key provisions that affect health savings accounts (HSAs) and Flexible Spending Accounts (FSAs):
The changes to eligible expenses are retroactively effective January 1, 2020. For a full list of qualified medical expenses, see IRS Publication 502.
People can make HSA contributions for 2019 up until the federal income tax filing deadline. Because of the pandemic, that deadline has been extended to July 15.
An HSA belongs to the individual and thus the funds in an HSA account are theirs to keep even if they lose coverage or change jobs. Normally, people are not permitted to use funds in their HSA to pay for insurance premiums, however, in the event of job loss, there are two exceptions where it is permissible to use HSA funds to pay for health insurance premiums:
As the nation emerges from the pandemic, expect the health care costs of treating the virus to drive up costs for businesses and consumers in the form of higher premiums and out-of-pocket payments. The expanded ability to use tax-free funds to pay for over-the-counter drugs and possible virtual care and virus testing is an important upgrade in the ongoing effort to manage health care costs.
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