News from Washington IRS Announces Tax Relief for Victims of Severe Storms, Straight-line Winds and Tornadoes in IndianaVictims of severe storms, straight-line winds and tornadoes in Indiana from March 31 to April 1, 2023, now have until July 31, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue […]
Updated April 18, 2024 The following bills have been introduced in the 118th Congress and could impact Health Savings Accounts if enacted. The link for each bill number will take you to Congress.gov where you can find more information about each bill, including names of the bill sponsors and cosponsors, the text and summary of […]
News from Washington Biden Signs Bill Ending National COVID-19 EmergencyPresident Biden signed a GOP-led resolution on April 10, bringing an end to the national emergency over the COVID-19 pandemic. The White House said it was already planning to wind down the national emergency and public health emergency around COVID-19 on May 11, giving states the […]
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 17 years. With the April 12 release of the March inflation figures by the Bureau of […]
News from Washington Biden Administration Appeals Texas Court Decision Striking Down Free Obamacare Coverage of Preventive CareThe Biden administration appealed a Texas federal judge’s decision to strike down free Obamacare coverage of preventive health-care services ranging from screenings for certain cancers and diabetes to HIV prevention drugs. The case will now go to U.S. Fifth […]
News from Washington Texas Judge Strikes Down Obamacare’s Free Preventive Services RequirementA federal judge in Texas struck down a key provision of the Affordable Care Act that requires insurers and employers to cover preventive services for free. The ruling applies nationwide and takes effect immediately. The decision jeopardizes access to treatment for millions of Americans […]
News from Washington IRS Provides Tax Relief for Victims of Severe Winter Storms, Flooding, Landslides and Mudslides in CaliforniaVictims of severe winter storms, flooding, landslides and mudslides in California beginning March 9, 2023, now have until October 16, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service […]
by Roy Ramthun, “Mr. HSA” One of the better things about a Health Savings Account (HSA) is you don’t have to figure out how much to contribute before the beginning of the calendar year, and you can change your mind during the year. You can even wait until the year is over to figure out […]
News from Washington IRS Answers FAQs n Medical Costs Paid Under HSA, FSA, and HRA PlansThe IRS has posted answers to frequently asked questions regarding whether certain costs related to nutrition, wellness, and general health are medical expenses that may be paid or reimbursed under an HSA, health FSA, or HRA. The FAQs clarify information […]
News from Washington Thune-Carper Bill Would Expand Access to High-Value Services in HSA-Eligible, High-Deductible Health PlansSens. John Thune (R-SD) and Tom Carper (D-DE) reintroduced the Chronic Disease Management Act, bipartisan legislation that would ensure that HSA-qualified plans can cover care related to management of chronic disease prior to a beneficiary reaching their plan deductible. The […]