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Health Care Spending Account Updates

Apr 1, 2021, 13:26 PM by Courtney Fitzgerald

The IRS has made recent updates regarding eligible Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs), or Health Care Flexible Spending Accounts (FSAs). 

 

PPE Added as an Eligible Expense

On March 26, 2021, the IRS announced that amounts paid for Personal Protective Equipment (PPE), for the primary purpose of preventing the spread of COVID-19, are treated as amounts paid for medical care.

Examples of eligible PPE include masks, hand sanitizer, or sanitizing wipes. 

With this announcement, these amounts can now be reimbursed by a Health Care Flexible Spending Account (FSA), a Health Reimbursement Account (HRA), or a Health Savings Account (HSA). These amounts are reimbursable for the account holder as well as their spouse and/or dependent(s) for purchases made on or after January 1, 2020. 

To view full IRS announcement, click here: Announcement 2021-7.

For information on filing for a reimbursement, visit the member portal here.

 

Federal Income Tax Filing Deadline Extended (HSA)

On March 17, 2021, the Treasury and the IRS announced the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. 

Due to the extension of the tax filing deadline, 5498-SA tax forms will not be sent out until June 2021. If you need any information prior to June, log in to your member portal here.

To view full IRS announcement, click here:  IRS Tax Day Extension - News Release.

 

Members with questions may contact NueSynergy at 1-855-750-9440 or kansassupport@nuesynergy.com.