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New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocketcosts on the part of plan enrollees. The changes are aimed at reducing out-of-pocketcosts for diabetes-related expenses, certain cancer screenings and contraceptives.
As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employee benefits.
Employees must pay the deductible out of pocket before the plan contributes to covered care costs. However, depending on the specific plan, preventive care may be covered before the deductible is met with no out-of-pocketcosts. Employers, employees or both can contribute funds to an HSA in the same year.
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