COVID-19 CARES Stimulus HSA Information
The CARES Act includes provisions that have an immediate impact on HSAs. For plan years beginning on or before December 31, 2021, an HSA-qualifying high-deductible health plan (HDHP) may now include coverage for telehealth services or other remote care as well as COVID-19 testing and treatment prior to the deductible being satisfied. As well, the definition of qualified medical expenses for HSA purposes now includes over-the-counter medical products, including menstrual care products. Because of the impact to HSAs, an HSA Disclosure Supplement specific to HSAs has also been included. We strongly recommend that this HSA Disclosure Supplement (enclosed) in addition to the required documents when establishing any new HSAs going forward. You may also send this HSA Disclosure Supplement to existing plan owners to make them aware of these changes.