Hidden inside the 800+ pages of the recent Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) is language that can help millions of individuals experiencing menstruation across the U.S.
Menstrual products — including tampons, pads, liners and other similar products — are now considered qualified medical expenses, and Americans can use their health savings account (HSA), flexible spending account (FSA) and health reimbursement arrangement (HRA) to purchase these products.Why the change matters
While at first this new win may not seem all that exciting (particularly for the other half of the U.S. population), consider this: A recent study of 31,000 low-income women in St. Louis found that 46 percent report needing to choose between food and menstrual products. In addition, two-thirds said they relied on donations from community service organizations to obtain feminine care products.
Those statistics are staggering, especially because, at any given time, menstruation products are a basic need for millions across the U.S.
What the changes mean for you
Americans can use their health account funds to purchase menstrual care products directly, allowing them to both save money on taxes, as well as use their regular income on other necessities.
HealthEquity could not be happier about this new development. Our goal is to help create ‘health equity’ for everyone. The new language in the CARES Act does just that for nearly 100 million Americans.
For more information on how the CARES Act impacts HealthEquity Members, click here.
For more information on how the CARES Act impacts HealthEquity Employers, click here.
HealthEquity does not provide legal, tax, financial, or medical advice.