Coronavirus Aid, Relief, and Economic Security (CARES) Act

The CARES Act and HSAs, HRAs and FSAs, etc
[By Staff reporters]

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, contains important updates on the use of health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement accounts (HRAs).



So, we wanted to inform you of the below changes that expand qualified medical expenses and access to remote care:

Telehealth services
High-deductible health plans (HDHPs) with an HSA may provide pre-deductible coverage for telehealth and other remote care services. This provision will last until December 31, 2021 (plan year must begin prior to this date).
Certain over-the-counter (OTC) drugs and medications as qualified medical expenses
The CARES Act restores the ability to use HSAs, FSAs and HRAs to purchase certain OTC drugs and medications, like aspirin and other pain medications, allergy medication, etc., without a doctor’s prescription.
For the first time, menstrual care products are considered qualified medical expenses for payment or reimbursement with an HSA, FSA or HRA.
Both provisions for OTC and menstrual products apply to amounts paid or expenses incurred on or after January 1, 2020, and are ongoing without an expiration date.
Important note for FSAs and HRAs:
You can use your account funds to purchase these products starting today. However, be sure individual merchants, like pharmacies and convenience stores,  update their point of sale (POS) system to now recognize these products as qualified medical expenses for FSA and HRA.
Use your payment card as you normally would for these purchases, and if the sale will not process, you can pay out of pocket with the option to reimburse yourself with account funds. As a reminder, keep your itemized receipt or explanations of benefits, which are needed to verify each purchase so you can be reimbursed.
For HSAs, you may use your debit card as you normally would since no claim reimbursement process is required. Please retain copies of your receipts as needed for tax purposes.
Please visit the US Federal  website for the latest developments and regulation changes related to COVID-19 and your health account(s), such as the CARES Act.



Assessment: Your thoughts are appreciated

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™ Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™



4 Responses

  1. THE Public Health WAY BACK

    Click to access NGA-Report.pdf

    Dr. David E. Marcinko MBA

    Liked by 1 person


    When cities come back to life, they might have a more familiar taste than you expect—like Dippin’ Dots.

    That might sound a little crazy. Cities are powered by kinetic energy: people bumping into each other on the street, cramming into concert venues and sports stadiums, sitting down at restaurants.

    Without those opportunities, a city will lose its allure. No wonder all the rich people have left for the Hamptons—you get 10x the space but Seamless tastes the same anywhere.

    Yet, cities have proven to be one of the most enduring of humanity’s inventions. They’ve withstood pandemics, recessions, and the internet age. When faced with adversity, cities have rebuilt themselves to adapt, all while sticking with their most successful traits: density, jobs, and rich cultural life.
    So what can we expect?

    The coronavirus pandemic strikes at the heart of a city’s engine: its social interactions. As cities ease lockdowns, they’ll have to ensure those face-to-face experiences can occur while keeping everyone healthy.

    Transportation: Public transportation is an essential service, but safety measures can be put in place to protect passengers and workers. Think social distance markings and quotas on the number of riders in a single train car. Also, bye-bye Uber Pool.

    Retail: Things will get weird. As hybridization accelerates, a store could be a showroom, a delivery warehouse, a restaurant, and a pop-up market all in one. “A 10-year commercial lease in a single-use building will no longer be standard,” declares Brookings.

    Culture: Expect every event to feel like a Rays game. When sports and theater do return (it may be many, many months), capacity at venues will be limited with chairs left open in between people. And if you thought coughing was frowned upon before…

    Design: The pandemic showed we need to be prepared to construct new buildings in a hurry and transform others from their original uses. We all saw pictures of those new hospitals in Wuhan going up in two weeks—that was only possible through “modular construction,” when a building’s components are prefabricated offsite.

    Bottom line: Typical city life we once took for granted will become a real hassle. But we’ll get used to it.


    Liked by 1 person

  3. Jeremy,
    Many thanks for your contribution.
    Ann Miller RN MHA

    Liked by 1 person

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: