HDHP HSA Archives - Employee Benefits I AP Benefit Advisors

IRS HDHP-HSA Plans May Cover Coronavirus Costs as Preventive Care

Today, in IRS Notice 2020-15, the Internal Revenue Service advised that HDHPs (High-Deductible Health Plans) 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).   In Notice […]

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IRS Expands List of Preventive Care for HSA Participants

Please note:  In prior guidance, the IRS/Treasury have not included preventive care services or benefits meant to treat an existing condition.  With Notice 2019-45 that is changing for the better. Important Factors:   Under a notice issued Wednesday, July 17, 2019, HDHP enrollees can deduct contributions to a HSA (Health Savings Account) for some care […]

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IRS Increases Some HSA Limits for 2019

With IRS Rev. Proc. 2018-30, the IRS provided several new increases to various categories that Individuals and Families may elect into a Health Savings Account (HSA) if they have a compatible HDHP (High Deductible Health Plan). For 2019, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,500, […]

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