The recently passed Inflation Reduction Act (IRA) brought some welcome news to employees who have a high-deductible health plan (HDHP) and a health savings account (HSA). Some insulin products can now be covered by the HDHP prior to the employee satisfying the deductible, and the employee can retain HSA eligibility. This change will impact plans starting December 31, 2022.
Selected insulin products include any dosage form, such as vial, pump, or inhaler, of any type, such as rapid-acting, short-acting, intermediate-acting, long-acting, ultra-long-acting, and premixed.
For an employer with an HDHP, covering these insulin products before the deductible is met is not required under the IRA, but it’s a plan design change that the employer may want to consider to enhance its health plan offering with either no deductible or a low deductible for these products. If you have questions, contact the Member Experience team by email or call 800-884-1328.
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