HSA
Industry & Regulatory News
IRS Announces Deadline Relief for Maine Severe Storms and Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of Maine severe storms and flooding.
Industry & Regulatory News
IRS Issues Reminder on Appropriate FSA and HSA Medical Expenses
The IRS has released an alert reminding taxpayers that personal expenses for general health and wellness are not considered medical expenses for flexible spending account (FSA) and health savings account (HSA) purposes, and that reimbursement of non-medical expenses results in the arrangement no longer being qualified and all disbursements being includible in income.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 19, 2024, for California severe storm and flooding, for the incident period of January 21, 2024–January 23, 2024.
Industry & Regulatory News
IRS Announces Deadline Relief for Michigan Severe Storms, Tornadoes, and Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes and flooding in Michigan.
Industry & Regulatory News
Proposal Would Expand Medical Expense Coverage for Caregivers
Representatives Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced H.R. 7222, the Lowering Costs for Caregivers Act.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for West Virginia
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for West Virginia severe storms, flooding, landslides, and mudslides, for the incident period of August 28, 2023 – August 30, 2023.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Maine
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for Maine severe storms and flooding, for the incident period of December 17, 2023 – December 21, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for Severe Storms in Connecticut
The IRS has announced the postponement of certain tax-related deadlines for victims in parts of Connecticut affected by severe storms, flooding, and a potential dam breach.
Industry & Regulatory News
Legislation Proposed to Simplify and Expand Use of HSAs
Representative Mike Gallagher (R-WI) has introduced HR 6857, the Simplify and Expand Health Savings Accounts Act.
Industry & Regulatory News
Bill Would Expand HSA Usage to Wearable Devices
Representative Michelle Steel (R-CA), along with co-sponsors David Schweikert (R-AZ), and Ami Bera (D-CA), have introduced HR 6279, the “Wearable Equipment Adoption and Reinforcement and Investment in Technology Act”, or the “Wear It Act”.