Last night, July 17th, the House of Representatives passed Bill& H.R. 748& with an overwhelming majority of 419 to 6. This bill would finally repeal the excise tax on high cost health plans, commonly known as the Cadillac Tax. Prior to this point lawmakers lacked the momentum necessary for a full repeal and instead focused on delaying the effective date of the tax. While this Band-Aid solution was appreciated, because the law remained on the books, employers who typically have a two to three year horizon for implementing employee benefits packages had to be wary of the tax. The bill will now move on to the Senate. We at Proficient Benefit Solutions will continue to show our support for this bill and hope to see the tax repealed as soon as possible.
In addition to Bill H.R. 748 being passed, the IRS released& Notice 2019-45& expanding benefits that are covered under high-deductible health plans. This expansion includes treatments and prescription drugs used to treat certain chronic conditions. This is a huge win for the thousands of HSA account holders who suffer from chronic illnesses.
A chart showing the new preventative care benefits listed below:
Preventive Care for Specified Conditions |
For Individuals Diagnosed with |
Angiotensin Converting Enzyme (ACE) Inhibitors |
Congestive Heart Failure, Diabetes, and/or Coronary Artery Disease |
Anti-resorptive Therapy |
Osteoporosis and/or Osteopenia |
Beta-blockers |
Congestive Heart Failure and/or Coronary Artery Disease |
Blood Pressure Monitor |
Hypertension |
Inhaled Corticosteroids |
Asthma |
Insulin and other glucose lowering agents |
Diabetes |
Retinopathy Screening |
Diabetes |
Peak Flow Meter |
Asthma |
Glucometer |
Diabetes |
Hemoglobin A1c Testing |
Diabetes |
International Normalized Ratio (INR) Testing |
Liver Disease and/or bleeding disorders |
Low-density Lipoprotein (LDL) Testing |
Heart Disease |
Selective Serotonin Reuptake Inhibitors (SSRIs) |
Depression |
Statins |
Heart Disease and/or Diabetes |
As always, we will make sure to keep you informed with any legislation regarding your benefits plans.
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