Benefit Enhancements to H.S.A.’s, HRA’s and FSA’s due to CARES Act

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains important provisions that affect HSAs, HRAs and FSAs. 

Effective immediately:

1. HSA-qualified health plans can now cover telehealth and other remote care service expenses below the HDHP statutory deductible limit, or at no or low-cost sharing, without affecting an account holder’s ability to continue contributing to their HSA. This provision will last until December 31, 2021.
2. Over-the-counter drugs and medicines can be paid for or reimbursed through an FSA, HRA or HSA without a doctor’s prescription.
3. Menstrual care products are now considered a qualified medical expense and are eligible for payment or reimbursement through an FSA, HRA or HSA. All expenses incurred after December 31, 2019 qualify, and the provision has no expiration date.