Frost Law
Notice 2024-75 expanded the list of preventive care services allowed without a deductible for high-deductible health plans (HDHPs). Enrollment in an HDHP is required to utilize a health savings account (HSA).
Over-the-counter oral contraceptives, emergency contraceptives, and male condoms are now considered preventive care, allowing coverage without a deductible. The notice also clarifies that all types of breast cancer screening (including mammograms), MRIs, and continuous glucose monitors for diabetes patients qualify as preventive care. Additionally, certain insulin products, whether prescribed for diabetes treatment or prevention, are now covered without a deductible.
Additionally, Notice 2024-71 established that amounts paid for condoms are considered medical expenses under §213(d) of the Internal Revenue Code. This means that taxpayers can deduct the cost of condoms as medical expenses if their total medical expenses exceed 7.5% of adjusted gross income and are not reimbursed by insurance or other health plans. Additionally, these amounts are eligible for payment or reimbursement under health FSAs, Archer MSAs, HRAs, or HSAs but cannot be deducted if reimbursed by such accounts.
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Notice 2024-75 expanded the list of preventive care services allowed without a deductible for high-deductible health plans (HDHPs). Enrollment in an HDHP is required to utilize a health savings account (HSA).
Over-the-counter oral contraceptives, emergency contraceptives, and male condoms are now considered preventive care, allowing coverage without a deductible. The notice also clarifies that all types of breast cancer screening (including mammograms), MRIs, and continuous glucose monitors for diabetes patients qualify as preventive care. Additionally, certain insulin products, whether prescribed for diabetes treatment or prevention, are now covered without a deductible.
Additionally, Notice 2024-71 established that amounts paid for condoms are considered medical expenses under §213(d) of the Internal Revenue Code. This means that taxpayers can deduct the cost of condoms as medical expenses if their total medical expenses exceed 7.5% of adjusted gross income and are not reimbursed by insurance or other health plans. Additionally, these amounts are eligible for payment or reimbursement under health FSAs, Archer MSAs, HRAs, or HSAs but cannot be deducted if reimbursed by such accounts.
