Q: Did the CARES act that was signed into law on March 27th expand any Health Coverage Rules?

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A: The newly signed law included the following additional provisions for health care coverage rules:

  • Flexible Spending Arrangements,(FSA) and Health Savings Accounts, (HSA). The CARES Act amends the IRS eligible expenses to include:
    • Over-the-Counter drugs without a prescription
    • Menstrual care products are eligible expenses (no prescription required)
    • Effective date is retroactive to include expenses incurred after December 31, 2019.
  • FSA and HSA Debit Cards
    • Coding of the expanded allowance may take the industry standard systems 30 or more days to update. The merchants will need to update their systems as well.   
    • Members may submit FSA claims to their respective administrator or reimburse themselves through HSA’s until the debit card systems are updated. 
  • Telehealth and Qualified High Deducible Health Plans (QHDHP) and Health Savings Accounts (HSA)
    • Effective March 27th, a QHDHP can allow telehealth for services in addition to COVID-19 to be covered before the deductible is met, without affecting the plan’s compatibility with HSA’s. 
    • This law will be in effect for plan years beginning before December 31, 2021.

If you have any questions or would like additional information, please contact your Liberty Advisor.

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