Description

This comprehensive, authoritative volume provides up-to-date coverage of recent legislative and regulatory developments relating to health savings accounts (HSAs). It provides clear and concise guidance on the complex qualification, contribution, administration, and compliance issues that arise in connection with HSAs. This edition includes significant new content on the impact of COVID-19 on the use of HSAs relating to related guidance found in the CARES Act and applicable IRS notices.

Health Savings Account Answer Book, Sixteenth Edition, offers the practitioner in-depth analysis of the full range of issues concerning these plans. Highlights include:

• A revised Introduction by William Sweetnam, Jr. explaining why he thinks the demand for HSAs and high deductible health plans (HDHPs) will continue to be strong.
• Updated coverage of the guidance regarding the COVID-19 emergency contained in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and in IRS Notice 2020-18, IRS Notice 2020-15, and IRS Notice 2020-23. Coverage includes the following:
• Payment of medical care services and items purchased related to testing for and treatment of COVID-19 without a deductible or with a deductible below the minimum annual deductible.
• When are distributions from HSAs for over-the-counter medicine or drugs tax-free qualified medical expenses even if there is no prescription?
• The treatment of menstrual care products as qualified medical expenses which can be paid for or reimbursed by an HSA, flexible spending arrangement (FSA) or health reimbursement arrangement (HRA).
• How telehealth and remote care services can be provided without a deductible and without impacting the ability of an account owner to contribute to an HSA.
• The automatic postponement of the due date for filing federal income tax returns and making HSA contributions to July 15, 2020.
• Discussion of whether the portion of health care costs paid by the employee with pre-tax salary reduction contributions are considered qualified health care expenses for purposes of calculating the credit for paid leave.
• Extension of the 60-day rollover period applicable to an HAS.
• Extension of time to file IRS Form 5498-SA--HSA, Archer MSA, or Medicare Advantage MSA Information, and to provide information to participants.
• A discussion of whether an HSA may reimburse the expense of medical marijuana, CBD oil, and CBD products.
• Explanation of new IRS Notice 2019-45, allowing coverage for certain chronic illnesses to be considered preventive care not subject to the deductible under the HDHP.
• Discussion of HSAs and the Fair Labor Standards Act final regulations.
• Discussion of repeal of the high cost coverage excise tax.
• Discussion of Affordable Care Act maximum out-of-pocket requirements and how those compare to the HDHP maximum out-of-pocket requirements.
• Expanded list of preventive care benefits published by the Centers for Medicare and Medicaid Services.
• Updated guidance regarding drug manufacturer's coupons and rebates and impact on HSA eligibility.
• An updated analysis of the agenda of President Trump and Congress regarding health care and HSAs in 2020. Analysis includes:
  • Legislation to address more issues relating to the COVID-19 pandemic.
  • The expansion of telehealth and remote care services.
  • The reimbursement of over-the-counter (OTC) drugs and medicines.
  • The Trump Administration's support of HSA and legislative changes that could be made to increase the use of HSAs

Note: Online subscriptions are for three-month periods.

Previous Edition: Health Savings Account Answer Book, Fifteenth Edition ISBN 9781543810950