Executive Order Provides Directive for Changes to HSAs

(June 25, 2019) On June 24, 2019, President Trump signed an Executive Order on health care price and quality transparency. The purpose of the Executive Order is to help patients make fully informed decisions about their healthcare by knowing the price and quality of a good or service in advance of receiving the service. The executive order does not directly change any law or regulation rather it directs various federal agencies to propose regulations, develop and issue reports, and/or adopt rules as directed by the order, all with the goal of price and quality of good/service transparency.

As it pertains to health savings accounts (HSAs), the order directs the following.

  • Within 120 days of the date of the Executive Order, the Secretary of the Treasury is to issue guidance to expand the ability of patients to select high-deductible health plans that can be used alongside an HSA, and that cover low-cost preventive care, before the deductible, for medical care that helps maintain health status for individuals with chronic conditions.
  • Within 180 days of the Executive Order, the Secretary of the Treasury is to propose regulations to treat expenses related to certain types of arrangements, potentially including direct primary care arrangements and healthcare sharing ministries, as HSA-qualified medical expenses. 

All Stories

2019 IRS Form 5498-SA Deadline Further Postponed to August 31, 2020
2021 HSA COLAs Issued
Retroactive Effective Date Provided for Exemption for HDHPs
Form 5498-SA Deadline Extended Until July 15th
Treasury Extends Deadlines for HSA Time-Sensitive Acts
IRS’s National Distribution Center is Closed
IRS Issues Additional Coronavirus Relief Including 60-Day Rollover Relief
UPDATE: President Trump Signs the CARES Act!
Massive $2 Trillion Federal Stimulus Package Will Immediately Impact Retirement Providers
House of Representatives Approves the CARES Act
Senate Unanimously Passes the CARES Act
IRS FAQs Confirms July 15th Contribution Deadline
IRS Confirms July 15th Tax Filing Deadline
Contribution Deadline Extended to July 15th
IRS Confirms HSA Contribution Deadline Remains April 15th
Tax Payment Deadline Extended; Tax Filing Deadline & HSA Contribution Deadline Unchanged
HSA-Compatible HDHPs May Pay COVID-19 Related Expenses
Publication 969 Posted
Definition of Preventive Care Expanded
Executive Order Provides Directive for Changes to HSAs
2020 HSA COLAs Issued
IRS Elaborates on Employers Recouping Contributions
2018 HSA Contribution Deadline April 15th For Most; Extended For Some
2019 Instructions for Forms 1099-SA and 5498-SA Posted
IRS Releases 2019 HSA Reporting Forms
IRS Proposes Changes to Requirements for Filing Information Returns Electronically
2019 HSA COLAs Issued
HSA Family Contribution Reverted To $6,900
HSA Contribution Clarification & Transition Relief
5th Circuit Court of Appeals Strikes Down DOL Fiduciary Rule
2018 HSA Family Contribution Limit Reduced
Publication 969 Posted
2017 HSA Contribution Deadline
HSA Changes Included In House Healthcare Bill
Publication 969 Posted
HSA Model Documents Posted
2016 HSA Contribution Deadline
2017 HSA COLAs Issued
HSA Enhancements Proposed in Bill
Publication 969 Posted
IRS Updates HSA-Related Forms
Publication 502 Posted
2015 HSA Contribution Deadline Reminder
IRS Releases 2016 HSA Reporting Forms
2016 Instructions for Forms 1099-SA and 5498-SA Posted
IRS Posts 2015 Form 8889
IRS Releases 2015 Instructions for Form 8889
Proposed Regulations Published Regarding Treatment of Same-Sex Marriage for Federal Tax Purposes
HSA Eligibility Rules Change for Individuals Receiving VA Benefits
EBRI Study Examines HSA Investment Options
2016 HSA COLAs Issued
Publication 969 Posted
IRS Notice Clarifies Obamacare HSA Preventive Care Issue
Form 5498-SA Deadline Extended Until July 15th
This website and its content is copyright of Convergent Retirement Plan Solutions, LLC - © Convergent Retirement Plan Solutions, LLC, 2020. All rights reserved. Disclaimer | Privacy Policy | Terms of Use
Convergent Retirement Plan Systems, LLC - visit website
IRA Stuff - Visit Site