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:
The U.S. Treasury has expanded preventive care benefits provided by high deductible health plans for some chronic conditions.
Under a notice issued Wednesday, July 17, 2019, HDHP enrollees can deduct contributions to a Health Savings Account for medical care and prescription drugs for conditions such as diabetes, asthma, depression, and heart failure. The expansion is the Treasury’s response to President Donald Trump’s executive order last month.
In prior guidance, the Internal Revenue Service and the Treasury have not included preventative care for services or benefits meant to treat an existing condition.
Notice 2019-45 provides that the following services and items for individuals with the specified chronic conditions listed are treated as preventive care.
Links:
When evaluating executive-level total compensation, employee benefits often drive significant value in those calculations, contributing to an organization's executive recruitment and retention...
Changes to Medicare Part D Benefit May Affect Creditable Status of Employer Plans In August 2022, Congress enacted the Inflation Reduction Act (IRA), which made significant modifications to the...
Direct contracting is gaining traction as a financial tool for high-performing self-funded health plans to control claims costs and improve member care. Self-funded health plans, or a group of...