News & Updates

← Back to News & Updates

Anthem Updates on New Qualified Expenses Added for HSAs, HRAs and FSAs

Apr 22, 2020

Anthem remains focused on their commitment to providing their members access to care and easing their financial burden related to COVID-19. A new federal law expands how members can use their health savings accounts (HSAs), health reimbursement accounts (HRAs - Member Pay), and flexible spending accounts (FSAs):

  • Members can now use these accounts to purchase over-the-counter (OTC) medicines that had previously required a prescription. They can also use the accounts to purchase menstrual products. This will help them save on health care costs because the funds in these accounts are pre-tax.
  • For now, members may need to pay for these items out of their pockets and file claims for reimbursement. They'll need to keep their receipts for these purchases. All eligible purchases they make after December 31, 2019, qualify.
  • They'll be able to use their debit cards soon. Retailers are updating their systems to accept the cards for the newly approved items. Some stores may be ready now for OTC medicines and by May 15, 2020 for menstrual products. Others may need several weeks for the update.

 

Employers don't need to do anything to make this change happen. 

 

This change was made as part of the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was signed into law March 27, 2020, and it went into effect immediately. 

 

Here's an employer flyer and a member flyer you can share with your clients letting them know about the changes. 

 

Anthem is steadfast in their commitment to support you and ensure their members have affordable access to care. Anthem will continue to provide you and them with resources and updates related to COVID-19. 

 

To learn more about your clients' health plan benefits and COVID-19, go to Anthem's COVID-19 web page. You can also email [email protected] if you have additional questions.

 

For questions, please contact a member of your B&P Sales Team - 888.722.3373.

©2021 BEERE&PURVES
Privacy Policy