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blue notebook binder with Legislation written on the spine (Photo: Shutterstock)

The IRS isn’t the most nimble of organizations, and it would be a stretch to say that health benefits organizations savor oversight. However, what we have seen recently from the IRS (and Congress) is a dedicated and purposeful movement to expand health savings options. In direct response to ‘unprecedented times,’ they have methodically increased health plan flexibility and contribution amounts for related tax-free savings options.

The steady rollout of IRS notices and relief packages that include health care coverage or contribution expansion has increased flexibility for all eligible Americans. It’s a speed of change that providers and account holders have never before witnessed. The resulting impact is an immediate increase in flexibility. The longer-term impacts will likely shift health plan design and selection, if the legislative changes resulting from relief packages become permanent changes. Employer education is also required to keep up with the speed of change so employees can understand the impact of those changes.

 

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