Summary of Legislative Changes in 2020 | by Jordan Shields, Partner

  • Repeal
    Health Insurance Tax – may be revisited under Biden presidency


  • Repeal
    Cadillac Tax – may be revisited under Biden presidency


  • Reinstated
    Patient Centered Outcome Research Tax – self-funded plans only


  • New
    Price Transparency rules
    Individual Health Care Reimbursement Arrangement
    New SBC Template required
    Carriers may decide whether to count drug coupons to out of pocket allowance
    Cost of Living Increases apply across the board to retirement and other programs


  • New Under
    Over the counter medications are covered under FSA or HSA


  • CARES Act
    Telehealth is a covered program under health plans, FSA and HSA
    COVID testing is covered at 100% under plans and also under FSA and HSA
    COVID immunizations
    Flexible Spending Account rollovers allowed up to $550