IRS: High-deductible health plans (HDHPs) can cover Coronavirus (COVID-19) costs. The tax agency announced that HDHPs can pay for COVID-19-related testing and treatment, without jeopardizing their status. And an individual with an HDHP that covers these costs may continue to contribute to a Health Savings Account. In Notice 2020-15, the IRS said that health plans that otherwise qualify as HDHPs won’t lose that status just because they cover the cost of testing for, or treatment of, COVID-19 before plan deductibles have been met. As in the past, any vaccination costs continue to count as preventive care and can be paid for by an HDHP. Read the notice: https://bit.ly/3aT6dqx. Call or visit our website for more information! www.mjscpa.com/
