Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

ACA: Adult Children Face HSA Gap

By staff Writer

X
Your article was successfully shared with the contacts you provided.

Congress has changed the health coverage eligibility rules for the adult children of insureds, but it has not made comparable changes in health savings account reimbursement rules, according to Gail Olsen.

Olsen, a lawyer at Reinhart Boerner Van Deuren S.C., Milwaukee, discusses that gap in a commentary distributed by eflexgroup.com Inc., Madison, Wis.

A provision in the Patient Protection and Affordable Care Act, one of the two new laws in the Affordable Care Act, will require insurers that provide access to dependent coverage to let insureds insure children as dependents until the children turn 26.

The adult child dependent PPACA provision will take effect Sept. 23.

The mandate applies to group health plans, including health reimbursement arrangements, but it did not change the dependent age rules “for purposes of ‘qualifying medical expenses’ eligible for tax-free reimbursement under a health savings account,” Olsen writes. “The prior rules apply for this purpose.”

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.