As the COVID-19 pandemic continues, many changes have occurred on Federal, State, and Local levels. FBA is dedicated to keeping our clients informed about these changes. On Friday, March 27th, the Coronavirus Aid, Relief and Economic Security Act was signed into law. This law reverses the restrictions set in place by the Affordable Care Act (ACA). This affects changes regarding the use of funds from HSA, FSA, and some HRA accounts for over the counter (OTC) medicine, including the coverage of OTC medicine that no longer requires a prescription, as well as menstrual care products. The bill has a retroactive start date of January 1, 2020. It is important to know past transactions cannot be affected but work is being done to make changes for future transactions currently in the assembly. We anticipate more detailed information by April 14.

 

With regards to HSA(s) and payments for Telehealth, the CARES Act will now allow for payments for remote care services to be permitted, below the deductible, in an HSA plan. This means that Telehealth expenses could be covered pre-deductible without damaging HSA eligibility. As the rules and definitions of what defines “other remote care services” within the CARES Act become more clearly defined we will provide updated information. This provision will remain in place until December 31, 2021. The list below is to clarify some of the changes:

 

OTC items listed that previously required a prescription, no longer need one

  • Antibiotics
  • Acid Controllers
  • Anti-Gas Products
  • Anti-Parasitic Treatments
  • Cold Sore Remedies
  • Digestive Aids
  • Hemorrhoid Preps
  • Motion Sickness
  • Respiratory Treatments
  • Stomach Remedies
  • Allergy & Sinus Medication
  • Anti-Diarrheals
  • Baby Rash Ointments & Creams
  • Cough, Cold & Flu
  • Feminine Anti-Fungal & Anti-Itch
  • Laxatives
  • Pain Relievers
  • Sleep Aids & Sedative
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