{"id":3108,"date":"2020-03-29T13:57:26","date_gmt":"2020-03-29T13:57:26","guid":{"rendered":"http:\/\/bakertillyvantagen.com\/?p=3108"},"modified":"2023-05-09T14:07:30","modified_gmt":"2023-05-09T14:07:30","slug":"3108-2","status":"publish","type":"post","link":"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/","title":{"rendered":"FSA\/HSA\/HRA eligibility list expansion"},"content":{"rendered":"\r\n<p>On March 27, the CARES Act was signed into law. This legislation provides disaster relief to employers and employees in an effort to minimize the economic impacts of the COVID-19 pandemic. The bill also introduces some important tax-advantaged provisions specifically related to FSA\/HSA\/HRA that we are excited to share: <\/p>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<ol class=\"wp-block-list\"><li> Permanently reinstates coverage for OTC (Over the Counter) drugs and medicines as eligible for reimbursement without a prescription&nbsp; <\/li><li>Expands eligibility to include menstrual care products<\/li><\/ol>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<p>These changes are effective for expenses incurred on or after January 1, 2020. We welcome this change and the opportunity for your plan members to have affordable access to OTC and menstrual care items through these tax-advantaged benefits. <br><\/p>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\"><li> <strong>OTC Rx Repeal:<\/strong> Prescriptions (Rx) will no longer be required for over-the-counter (OTC) drugs, including items like Tylenol, Claritin, Tamiflu, etc. when purchased with an FSA, HSA or HRA, effective immediately and retroactive to January 1, 2020. As you know, FSA, HSA and HRA OTC drug purchases have required a prescription since 2011 per the Patient Protection and Affordable Care Act. This change caused confusion and unnecessary trips to the doctor, and the welcome relief will mean that Americans with FSAs, HSAs and HRAs can again buy the OTC medicines they need to stay healthy now and in the future. <\/li><li> <strong>Menstrual Care Products:<\/strong> The new allowance of menstrual care products as eligible under an FSA, HSA or HSA, effective immediately and retroactive to January 1, 2020. The bill indicates that this addition means a \u201ctampon, pad, liner, cup, sponge, or similar product used by individuals with respect to menstruation\u201d will qualify. <\/li><\/ul>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<p>While we as an administrator are ready today, the full rollout requires the Special Interest Group for IIAS Standard (SIGIS) and merchants to take action.&nbsp; In the upcoming weeks an updated list of eligible products will be released from SIGIS and the implementation will follow with participating merchants updating their point of sale systems, which is typically done on a monthly basis.&nbsp; We anticipate that many will do this as soon as the new list is available. <\/p>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<p>It is important to emphasize that each merchant will adhere\r\nto their own timeline for completion of this process based on their own\r\ninternal considerations.&nbsp; This will undoubtedly result in inconsistencies\r\nin the shopping experience of our consumers (i.e. OTCs will be allowable for\r\ncard purchase at one merchant, but not another) as the industry makes this\r\nimportant transition.&nbsp; We expect any issues like this to be temporary and\r\nresolved in a fairly short timeframe. Should your members pay out of pocket for\r\nan OTC product, they may file a claim online at myFlexDollars.com or on the\r\nMyFlexDollars mobile app for reimbursement.&nbsp; The claim filing process will\r\nNOT require a prescription for reimbursement. <\/p>\r\n\r\n\r\n\r\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\r\n\r\n\r\n\r\n<p>We will continue to provide updates as they become available on this industry wide effort.&nbsp; In the meantime, Baker Tilly Vantagen will be posting revised Summary Plan Descriptions for your members\u2019 to access in the consumer portal and preparing consumer level education collateral to include these changes.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>On March 27, the CARES Act was signed into law. This legislation provides disaster relief to employers and employees in an effort to minimize the economic impacts of the COVID-19 pandemic. The bill also introduces some important tax-advantaged provisions specifically related to FSA\/HSA\/HRA that we are excited to share: Permanently reinstates coverage for OTC (Over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FSA\/HSA\/HRA eligibility list expansion - Baker Tilly Vantagen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FSA\/HSA\/HRA eligibility list expansion - Baker Tilly Vantagen\" \/>\n<meta property=\"og:description\" content=\"On March 27, the CARES Act was signed into law. This legislation provides disaster relief to employers and employees in an effort to minimize the economic impacts of the COVID-19 pandemic. The bill also introduces some important tax-advantaged provisions specifically related to FSA\/HSA\/HRA that we are excited to share: Permanently reinstates coverage for OTC (Over [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Baker Tilly Vantagen\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-29T13:57:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-09T14:07:30+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/#\/schema\/person\/05b08f35fed6da9d8d3048e38f3fae5e\"},\"headline\":\"FSA\/HSA\/HRA eligibility list expansion\",\"datePublished\":\"2020-03-29T13:57:26+00:00\",\"dateModified\":\"2023-05-09T14:07:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\"},\"wordCount\":509,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\",\"url\":\"https:\/\/sitepreviews.org\/bt-vantagen\/3108\/3108-2\/\",\"name\":\"FSA\/HSA\/HRA eligibility list expansion - 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