IRS Allows HDHPs to Cover Coronavirus Costs

On March 11, 2020, the Internal Revenue Service (IRS) issued Notice 2020-15 to advise that high deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19) testing and treatment before plan deductibles have been met, without jeopardizing their status. According to the IRS, this also means that individuals with HDHPs that cover these costs…
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2020 Employee Benefit Plan Limits

Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS, including the following: High deductible health plans (HDHPs) and health savings accounts (HSAs) Health flexible spending accounts (FSAs) 401(k) plans, and Transportation fringe benefit plans. For 2020, there will be an increased limit in HSA contributions for…
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