Please visit our COVID-19 resources page with more information for business owners and employees.
The CARES Act is a $2 trillion stimulus package aimed at providing relief during the COVID-19 crisis.
The bill includes essential info regarding eligible expenses for people with health savings accounts (HSA), flexible spending accounts (FSA), and health reimbursement arrangements (HRA).
As a provision of the CARES Act, the following will be included in the eligible expenses until December 31, 2020:
- Menstrual care products, such as pads, tampons, or similar products
- Over-the-counter medicines not prescribed by a doctor
- Telehealth services will be covered pre-deductible and will not impact HSA eligibility
Here is a sample list of typical eligible expenses:
- Eye exams, eyeglasses, and contact lenses
- Dental exams or teeth cleanings
- Specialist copays/coinsurance
- Medical syringes
- Special baby formula
- Hearing exams and hearing aids
- X-rays
- Lab fees
- Physical therapy
- Counseling (not marital or career)
- And more!
Review the American Benefits Administrators eligible items fact sheet for more details on eligible expenses. You also have the option to visit the FSA store to browse and shop from home for approved items.
Not all FSA/HSAs are the same. Check with your Nextep benefits team at benefits@nextep.com to confirm the eligibility of items.
