The recently passed CARES Act expands HSAs and what they cover. These changes allow access to more medical services without worrying about your deductible. They also allow you to take more tax-free distributions from your HSA. Here’s what you need to know.
The Coronavirus Aid, Relief and Economic Recovery Act (CARES Act) was signed into law on March 27. It includes several important retirement-related provisions. Because some of these provisions are confusing, several CARES Act misconceptions have arisen.
The recently-enacted “Coronavirus Aid, Relief, and Economic Security Act,” or CARES Act, includes special tax relief for IRA and company plan withdrawals made in 2020 and for company plan loans. Here is an overview of the CARES Act relief.