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| 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). ***
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*** So, we wanted to inform you of the below changes that expand qualified medical expenses and access to remote care: |
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| 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.
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*** Assessment: Your thoughts are appreciated
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Filed under: Health Economics, Health Insurance, Health Law & Policy | Tagged: CARES Act, HSA |
THE Public Health WAY BACK
Dr. David E. Marcinko MBA
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THE ECONOMIC RETURN
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.
Farnsworth
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TELE-HEALTH = Not so Fast
https://www.beckershospitalreview.com/telehealth/us-insurers-cutting-telehealth-coverage-as-covid-19-cases-surge.html
Dr. David E. Marcinko MBA
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