What's Eligible?
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COVID-19 Updates
View these documents to better understand what is happening with your benefit plans.

OTC Medicines

OTC medicines no longer require a prescription.

On March 27, 2020 President Trump signed in to law the "Coronavirus Aid, Relief, and Economic Security Act" or the CARES Act.

 

Two specific provisions affected FSAs, HSAs and HRAs.

 

1. The act removed the requirement that a medicine and drug can only be reimbursed by a FSA, HSA, or HRA if it is prescribed. All over-the-counter drugs immediately qualify for reimbursement from FSAs, HSAs and HRAs. 

2. Effective as of March 27, 2020 "Menstrual Care Products" now are included in the definition of qualified medical expenses. We should approve any receipts for these products. Per the law:  "the term menstrual care product means tampon, pad, liner, cup, sponge, or similar product used by individuals with respect to menstruation..."

HSA Contribution Deadline Extended

The IRS has extended the deadline for making 2019 HSA contributions to July 15, 2020.

The IRS issued Notice 2020-18 extending the deadline to file 2019 individual tax returns to July 15, 2020. On March 24th they answered some questions about the extended deadline. One question related to HSA contributions for 2019.

Q21. Does this relief provide me more time to contribute money to my HSA or Archer MSA for 2019?

A21.  Yes. Contributions may be made to your HSA or Archer MSA, for a particular year, at any time during the year or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns is now July 15, 2020, under this relief, you may make contributions to your HSA or Archer MSA for 2019 at any time up to July 15, 2020.  For more details on HSA or Archer MSA contributions, see Publication 969, Health Savings Accounts and other Tax-Favored Health Plans.
 

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Rocky Mountain Reserve

Benefit Plan Administrator

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