The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020 in response to the economic fallout of the COVID-19 pandemic in the United States. This change is retroactive to January 1, 2020 and has no expiration date. On March 27, 2020, the federal government passed and signed into law the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, that includes a wide-ranging set of emergency funds and relief provisions for businesses and individuals experiencing hardships as a result of the COVID-19 pandemic. Therefore, allowing reimbursement of over-the-counter medications without a prescription to the extent such items were purchased on January 1, 2020 and thereafter. "Coronavirus Aid, Relief, and Economic Security Act, Section 3702Coronavirus Aid, Relief, and Economic Security Act, Section 3212Sachs, Gerald S.; Baker, Allyson B.; Pompan, Jonathan L.; Arculin, R. Andrew; Frechette, Peter S. (April 3, 2020). " Posted by Andrew Kaiser on April 6, 2020. The OTC Rx provision was originally included in the Affordable Care Act (ACA), and the Better Care Reconciliation Act will fully remove the provision for FSA and HSA users to obtain a prescription for OTC drugs. Answer: The two key provisions that passed in the CARES Act were originally held in a bill called the Restoring Access to Medication Act (HR 1922). CARES Act changes to FSA’s and HSA, HRA’s and FSA’s. The proposed effective date is for expenses incurred after December 31, 2016. If you purchased newly-eligible items since January 1, you can file a claim for reimbursement as you would for all other eligible expense items.If you use a Navia Benefits Card, please note that most retail and online stores need to modify their inventory systems to mark OTC items as eligible expenses under the new laws before your card will be accepted for these items. Navia can assist companies with general questions related to telehealth and offers a telehealth service for companies that currently do not have one in place; please contact us if you need further information.Understand the 8 employee benefit extensions designed to help employees and COBRA beneficiaries during the COVID-19 pandemic (Download the Ultimate Guide to Managing Benefits During COVID-19) On April 29, 2020, the Department of Labor, Revenue, and Treasury (the “Departments”) issued…Furlough vs layoff: three things employers need to know as coronavirus prompts unprecedented leave of absence (Download the Ultimate Guide to Managing Benefits During COVID-19) Furlough vs layoff? "Atlas, Harry I.; Reno, Juliana; Tavares, Lisa A.; Matisoff, Gregory C. (May 12, 2020). CARES Act of 2020 – FSA/HSA/HRA Expanded Eligible Expenses and Educational Assistance Provisions. The Coronavirus, Aid, Relief and Economic Security (CARES) Act, signed into law by President Trump, provides clarity around certain Flexible Spending Account and Dependent Care Account provisions.The FAQ below answers the most common questions around FSAs/DCAs as it relates to the COVID-19 pandemic and resulting CARES Act. (April 3, 2020). Menstrual care products are now reimbursable as eligible expenses, including tampons and pads. After the normal open enrollment period is closed, employees must wait until the next plan year to enroll or make changes to the amount that they are contributing to their accounts.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020. IR-2020-67, April 9, 2020 — The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. You can still purchase these items using an alternative form of payment and submit the expenses for reimbursement until the retail systems are updated.Most FSA and HRA benefit plans require you to enroll on an annual basis during your employer’s open enrollment period.

Student loan borrowers received a surprise benefit from the CARES Act. Those participants can purchase OTC medications with their accounts without needing a prescription or Letter of Medical Necessity Form. Guidance for Assisting Borrowers If a borrower can still make their mortgage payment, request that they continue to do so. The CARES Act lets you use tax-free money from your FSA or HSA for over-the-counter medications. The OTC provisions in the CARES Act affect any purchases made after December 31, 2019. Keep in mind that the IRS stockpiling rule is still in effect. To submit a claim, see an updated list of eligible expenses or learn about other changes to your Medical FSA or DCAP, visit Navia’s website for To submit an HSA claim, visit HealthEquity’s website for Eligible Health FSA Expenses Only with a Letter of Medical Necessity Form CARES Act of 2020 Update Over-the-counter (OTC) medications are now reimbursable under FSAs without requiring a prescription or completing a Letter of Medical Necessity Form.

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