Health Savings Accounts | ACA guidelines now available

The IRS issued a notice today clarifying that a health plan will not fail to qualify as a high deductible health plan (HDHP) under section 223(c)(2) of the Internal Revenue Code (Code) merely because it provides without a deductible the preventive health services required under section 2713 of the Public Health Service Act (PHS Act) to be provided by a group health plan or a health insurance issuer offering group or individual health insurance coverage.

The full notice is available at http://www.irs.gov/pub/irs-drop/n-13-57.pdf

For background on health savings accounts see our blog post at http://wp.me/p3RWNG-29.

Advertisements

New legislation would allow health savings accounts to cover nutritional supplements

Forward Motion

Two new pieces of legislation have been introduced before Congress that, if passed, will expand coverage options for individuals with either Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs). According to a recent Action Alert issued by the Alliance for Natural Health – USA (ANH-USA), funds held in both HSAs and FSAs would cover dietary supplements under the new bills, a major policy change that has the potential to dramatically cut healthcare costs and further promote health freedom.

Introduced by Senator Orrin Hatch (R-UT), the Family and Retirement Health Investment Act of 2013 provisions that the term “medical care” be expanded in definition to include dietary supplements, allowing up to $1,000 from HSAs and FSAs to be spent on them for medical care each year. Additionally, Representative Erick Paulsen (R-MN) introduced House Resolution (H.R.) 2194 as a companion bill in the House.Buying-Supplements

Together, the bills would combine to establish…

View original post 442 more words