IRS Expands HSA Safe Harbor For Preventive Services Per Recent EO

The Treasury Department on Wednesday (July 17) issued guidance listing 14 preventive drugs and services used for common chronic conditions -- including insulin, statins and beta-blockers -- that now can be covered pre-deductible by health plans linked to health savings accounts (HSAs), responding quickly to President Trump’s June 24 executive order that directed the department explore the change. The immediately effective guidance was cheered by employers and other stakeholders who support value-based insurance designs (VBID) and have long said that...