Employers should consult their plan documents and their legal counsel or benefits advisors if they have questions or concerns on this topic.Navia has created a general advisory to employers to assist the review of their plan documents (download Unless specifically prohibited by your employer, most participants can use their existing FSA/HSA/HRA funds to purchase newly-eligible OTC items immediately. Keep in mind that the IRS stockpiling rule is still in effect. As of May 3, the largest beneficiary of relief loans under this program is the hotel group Ashford Hospitality Trust. "McGinnis, Brian; Ludwig, Steven K.; Nagle, Robert C.; MacDonald, Andrew M.; McNelis III, Joseph A. "Atlas, Harry I.; Reno, Juliana; Tavares, Lisa A.; Matisoff, Gregory C. (May 12, 2020). The bill is referred to by lawmakers as "Phase 3" of Congress's In response to the coronavirus pandemic there was a dramatic global In March, it was predicted that, without government intervention, most airlines around the world would go bankrupt.In an effort to gain Republican support for a large stimulus package that at the time was envisioned to be about $1With guidance from the White House, Senate Majority Leader Businesses owned by the president, senior government officials, and their immediate families are ineligible for funds distributed through the $500Jared Kushner's businesses may generally be eligible for relief under the Economic Stabilization Fund because, according to On April 21, the Trump Organization said it would not seek a Political donors are eligible for loans under the Paycheck Protection Program. This comes after the recently passed Families First Coronavirus Response Act required certain coronavirus-related IR-2020-67, April 9, 2020 — The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Accordingly, participants in HSA’s and FSA’s will probably not be able to use their debit cards for these transactions until the systems have been updated.It is reported that merchants will be prepared to accept benefit card transactions for over-the-counter items around April 15, 2020 and menstrual care products around May 15, 2020. The CARES Act provides a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship due to the novel coronavirus (COVID-19) national emergency. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020. The CARES Act overturns the repeal on over-the-counter (OTC) medications previously passed under the Affordable Care Act. (Getty Images) If your employer offers a flexible spending account, you … Answer: The two key provisions that passed in the CARES Act were originally held in a bill called the Restoring Access to Medication Act (HR 1922). The OTC provisions in the CARES Act affect any purchases made after December 31, 2019.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2 trillion package of measures introduced in March 2020 in response to the COVID-19 pandemic. A question being asked by employers across America as the COVID-19 pandemic freezes…**UPDATED 4/6/2020** Stay healthy and maximize your benefits during the COVID-19 pandemic (Download the Ultimate Guide to Managing Benefits During COVID-19) We hope everyone across our customer and partner community are safe and well as the rapidly-changing situation with COVID-19…Subscribe to Navia's blog and get alerts when we have new content! Additionally, the CARES Act now allows for the reimbursement of menstrual care products by health FSAs, HSAs and HRAs.However, be prepared, we have experienced that merchants (e.g. Manual claims can be filed for reimbursement in the interim. In light of COVID-19, under what circumstances am I allowed to …