The IRS has announced that a health plan will not fail to be a High Deductible Health Plan (HDHP) under IRC Sec. 223(c)(2)(A) merely because it provides health benefits associated with testing for, and treatment of, the COVID-19/Coronavirus without a deductible, or with a deductible below the minimum deductible (self only or family) for an HDHP. Therefore, an individual with an HDHP that covers these costs may continue to contribute to a Health Savings Account (HSA). Also, as in the past, any vaccination costs continue to count as preventive care and can be paid for by the HDHP. According to the IRS, such relief is needed to avoid administrative delays or financial disincentives that might otherwise impede treatment of the coronavirus for participants in HDHPs. The relief, however, does not modify previous guidance on other HDHP requirements. Notice 2020-15 and News Release IR 2020-54.
https://www.armcpa.com/wp-content/uploads/2018/02/logo.png 0 0 Bill https://www.armcpa.com/wp-content/uploads/2018/02/logo.png Bill2020-03-22 05:41:582021-02-08 06:21:50High Deductible Health Plans Can Cover Coronavirus Costs