IRS Announces Health Savings Account (HSA) Eligibility Will Not Be Impacted By High Deductible Health Plan (HDHP) Coverage of COVID-19 Testing and Treatment
March 11, 2020 - the Internal Revenue Service today issued notice 2020-15. This ruling clarifies that coverage by High Deductible Health Plans (HDHPs) for expenses related to testing and treatment of COVID-19 before the plan deductible has been met will not impact Health Savings Account (HSA) eligibility. HSA accountholders may continue to make contributions to HSAs without penalty or risk of jeopardizing their HSA status.
Vaccinations costs will continue to be classified as preventive care, as they have been treated in the past.
Please contact your dedicated account manager at 800.532.3327 with questions regarding the notice.
About Flores
Flores is a leading national administrator of tax-advantaged reimbursement plans including Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefit Accounts (CBAs). In addition to these account-based benefit options, they also handle COBRA and other direct bill services to meet the compliance needs of the employers they serve. In 2018, Flores introduced life.balanced. Reimbursement Accounts (LBA), an affordable post-tax lifestyle reimbursement account for the culture-driven employer. Based in Charlotte, NC, Flores has emerged as the leader in the CDHP market through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to superior service. For more information, visit the Flores website and follow them on LinkedIn.
- Cindy Bistany
- Director of Business Development and Strategic Alliances
- (828) 693-3595
- cindy@flores247.com
- Clay Peddycord, GBA, CFC
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- clay.peddycord@flores247.com
- Aaron Hunt, MBA, CDHC, HSAe, Certified COBRA Administrator
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- aaron.hunt@flores247.com