Understanding Health Plans and the IRS in the Age of COVID-19

As the 2019 Novel Coronavirus (COVID-19) spreads, people are doing one of two things. They are either changing their routines completely hoping that it does not directly affect them, or they are making slight modifications ready to get tested if they feel the onset of symptoms. The information and direction from sources like the Centers for Disease Control (CDC) is clear. People may wonder if getting a COVID-19 test would change their deductible medical expenses. Are these tests covered?

         The Internal Revenue Service (IRS) has determined that High Deductible Health Plans (HDHP) can pay for COVID-19 testing and treatments. In a previous post, we discussed the details of Health Savings Accounts (HSA) and how they affect a person’s tax responsibilities. Simply put, these plans and accounts will cover the testing needed if you feel it necessary to go to the doctor. Do not let worries about taxes keep you from seeking medical help that you or your family needs. 

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