President Trump Issues Executive Order on Medical Price Transparency That Also Addresses HSA and FSA
Of particular interest to ECFC members is Section 6 of the Executive Order which directs the Department of the Treasury (which would include the Internal Revenue Service) to the extent permitted under current law to:
1. Issue guidance that would allow an HSA compatible high deductible health plan to provide low-cost preventive care before the deductible for medical care that helps maintain the health status of individuals suffering from chronic conditions. This guidance is required to be issued within 120 days after the date of the order.
Note that the order says that the guidance issued must be permitted under current law, so the Treasury and IRS may not have the authority to issue guidance as broad as contemplated by the Executive Order. We will keep the membership abreast of any actions taken by the Treasury and IRS in accordance with this Executive Order.
The Executive Order can be found here.