Get information on coronavirus (COVID-19) tax relief for health plans and retirement plans. Mandatory Coverage of COVID-19 Tests Group health plans and health insurance issuers offering group or individual health insurance coverage, including grandfathered health plans, generally must provide benefits for certain items and services related to testing for the detection of SARS-CoV-2 (the virus that causes coronavirus disease 2019 (COVID-19)) or the diagnosis of COVID-19, without imposing any cost-sharing requirements (including deductibles, copayments, and coinsurance), prior authorization, or other medical management requirements. Additional guidance on these requirements can be found at: FAQS about Affordable Care Act Implementation Part 51, Families First Coronavirus Response Act and Coronavirus Aid, Relief and Economic Security Act ImplementationPDF FAQS about Families First Coronavirus Response Act and Coronavirus Aid, Relief and Economic Security Act Implementation Part 52PDF Coronavirus Relief for Retirement Plans and IRAs The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes it easier for you to access your savings in Individual Retirement Arrangements (IRAs) and workplace retirement plans if you’re affected by the coronavirus. This relief provides favorable tax treatment for certain withdrawals from retirement plans and IRAs, including expanded loan options. High-Deductible Health Plans High-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. Read the press release on HDHPs. Temporary relief for retirement plan participants to sign elections remotely Temporary administrative relief is being provided to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures. The change relates to signatures of the individual making the election to be witnessed in the physical presence of a plan representative or notary public, including a spousal consent (“the physical presence requirement”). Read the news release about relief for retirement plan participants. More Information See all frequently asked questions, resources and guidance
