Does my HSA Cover Covid-19 Testing and Treatment?
The IRS has issued Notice 2020-15 on March 11, 2020, which allows high-deductible health plans (HDHPs) to cover testing and treatment for the COVID-19 virus without a deductible. As an HSA accountholder, this means you can seek coronavirus testing and treatment through your HDHP and pay for it with your HSA funds.
Does the CARES Act Expand the List of Reimbursable Expenses through an HSA? (Over-the-Counter (OTC) Drugs and Menstrual Care Products)
YES! The CARES Act states that consumers can purchase OTC drugs and medicines with funds from their HSA. The Act also includes menstrual products as a qualified medical expense. This provision is effective for purchases and reimbursements of expenses incurred after December 31, 2019. It does not have an expiration date.
What Has Changed Regarding Telehealth?
The CARES Act states that "telehealth and other remote care services" below the deductible will be permitted in an HSA-compatible high deductible health plan (HDHP). This provision is effective immediately and will expire December 31, 2021.