IR-2020-54, March 11, 2020
WASHINGTON — The Internal Revenue Service today advised 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).
In Notice 2020-15 (PDF), posted today on IRS.gov, the IRS said that health plans that otherwise qualify as HDHPs will not lose that status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been met. The IRS also noted that, as in the past, any vaccination costs continue to count as preventive care and can be paid for by an HDHP.
Today’s notice applies only to HSA-eligible HDHPs. Employees and other taxpayers in any other type of health plan with specific questions about their own plan and what it covers should contact their plan.
WASHINGTON – This week, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) hosted…
140,803 Taxpayers Filed Their Taxes Directly with the IRS for Free as users claimed more…
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the…
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is…
New Inflation Reduction Act Provision Broadens Access and Boosts Return on Clean Energy Tax CreditsWashington,…
As Prepared for DeliveryThank you all for coming together today for this important discussion. I am…