Covid-19 | Member Resources
Regulatory COVID-19 Updates
Read the latest information to see how rule changes could impact your benefits.
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March 26, 2021
Recently, the IRS announced that Personal Protective Equipment (PPE) used primarily for the purpose of preventing the spread of Novel Coronavirus Disease 2019 (COVID-19) is now a qualified medical expense eligible for reimbursement under Healthcare Flexible Spending Accounts (HCFSAs) Archer medical savings accounts (Archer MSAs), health reimbursement arrangements (HRAs), and Health Savings Accounts (HSAs). This includes face masks, hand sanitizer and sanitizing wipes.
December 30, 2020
NEW COVID RELIEF LEGISLATION COULD MEAN CHANGES TO YOUR FLEXIBLE SPENDING ACCOUNT
The Consolidated Appropriations Act, 2021 (commonly called the COVID Relief Bill) allows employers to increase carryover amounts and extend grace periods for dependent care and healthcare flexible spending accounts. In addition, organizations may allow election changes without regard to change in status rules (annual limits still apply).
Note that these changes are at employer discretion and do not apply universally. Wait for guidance from your benefits team to learn what—if any—changes impact you.
These new rules could bring much needed relief to employees who:
Didn’t enroll during annual enrollment because of pandemic uncertainty.
Haven’t used remaining FSA and DCFSA funds.
Risk spending down accounts frivolously to avoid forfeiting funds.
Deferred medical, dental or other care, or gone without childcare, during the pandemic.
There have been a lot of changes during this past year as the nation deals with COVID-19. This list will hopefully help you find the answers you need regarding your health accounts and the recent changes.
Have more questions? Contact us.