IRS Announcement 2021-7 Eligible Product List Changes
On Friday March 26th the Internal Revenue Service issued Announcement 2021-7 clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 are treated as amounts paid for medical care under IRS Code §213(d) and therefore deductible pursuant to IRS rules.
CARES Act - Eligible Product List Changes
On Friday March 27th the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act was signed into law. The bill included a change impacting the use of funds from HSA, HRA and FSA health benefit accounts. The bill reverses the prescription requirement for Over the Counter Drugs for reimbursement and also includes eligibility for menstrual care products.
SIGIS Updates Eligible Product List Criteria - January 2020
Over the last 18 months, the SIGIS Eligible Product List Committee has been working to clarify certain categories of products with various industry and regulatory experts.
SIGIS Informational Letter Request to IRS
On June 11, 2018, Outside Counsel for SIGIS sent a letter to the IRS requesting clarification on certain items that the SIGIS Eligible Product List Committee has under review to determine their eligibility.
SIGIS Launches Network Certification Process to Support Durbin
On April 4th the SIGIS Board of Directors ratified new standards and certification policies in support of the Dodd Frank Wall Street Reform Act's network routing requirements. The standards will allow industry participants to use the SIGIS's standards on PIN networks as an option in meeting the new regulatory requirements.
SIGIS Updates Eligible Product List Criteria April 2012
The Eligible Product List Criteria was updated with clarifications for the Breast Pumps / Breast Feeding Supplies, Contraceptives, Elastics / Athletic Treatments, and Eye Care categories.
SIGIS Updates Eligible Product List Criteria
SIGIS has revised the Eligible Product List Criteria Document to address changes related to sunscreen, durable medical equipment and healthcare services.
SIGIS Merchant Store Locator Now Available
The Store Locator is now available for FSA/HRA card holders on the SIGIS website. This tool will help consumers find IIAS Certified and/or 90% Registered merchants.