On June 10, 2020, the IRS issued a proposal to treat these payments as payments for health insurance. However, this proposal was met with opposition from organizations such as the Alliance of Health Care Sharing Ministries and the National Association of Insurance Commissioners.

 

As of February 1, 2023, there has been no word from the IRS regarding the finalization or withdrawal of these proposed regulations. Currently, payments made to health care sharing ministries are not considered allowable as reimbursable expenses under Section 105 medical plans or other health reimbursement accounts.

 

We will continue to monitor the situation and provide updates as they become available.

 

In the meantime, it is important to remember that payments made to health care sharing ministries are not tax-deductible as medical expenses.

 

If you have any questions or concerns, please do not hesitate to reach out. My direct phone number is 610-278-8400.