Teladoc & Health Savings Accounts

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Many of our clients have Teladoc telemedicine services embedded in their health program, while offering an HSA compatible health plan. There has been much discussion over whether the HSA plans would remain compatible if Teladoc were to pay 100%/no copay for Covid-19 services. Today we received Teladoc’s position on this as follows:

Q. Can employers with high‐deductible health plans and/or HSAs make free virtual care visits available to their employees to support coronavirus response?

A. Employers are now allowed to cover the cost of virtual care visits for their employees without risking the tax deductibility of their employees’ HSA contributions. In Section 3701 of the CARES Act, which was signed into law on March 27, 2020, an individual who has an HSA and an HDHP can also simultaneously be enrolled in a plan that covers the cost of telehealth services prior to the payment of the HDHP’s high deductible.

Disclaimer: Torgersen Causey/Combined Insurance Services’ agents and employees do not provide legal or tax advice.

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