IRS ISSUES BULLETIN REGARDING COVID-19

March 13th, 2020 in Compliance News Alerts
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The Internal Revenue Service (IRS) has issued Bulletin 2020-15, advising that high-deductible health plans (HDHPs) can pay for 2019 novel coronavirus (COVID-19) related testing and treatment, without jeopardizing their status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA).

Health plans that qualify as HDHP would not lose their status because they are covering the first dollar treatment of the COVID-19 virus. Please note this only applies to HSA eligible HDHPs.

The notice in its entirety can be found here