I found errors in the Group Health Insurance section of FP 512 Module 5, how do I report them?

Joshua10813023

1. On page 244 of the eBook it states: "In 2023, contributions are limited to up to $3,850 for individuals. For families, contributions are limited to up to $7,750. These limits are based on a full year and must be adjusted for partial years (see IRS Form 8889). The tax filing status of the participant does not affect the contribution. For persons age 55 or older, the contribution may be increased by $1,000. Contributions may be made up to April 15 and are to be reported on Form 8889. The age 55 catch-up is for the person whose name is on the account. If both spouses have an HSA account, then both spouses receive the additional $1,000 contribution allowance." The mention of contributions needing to be adjusted due to partial years is not true. According to the IRS , if the coverage started after January 1st it is still eligible for a full-year contribution as long as the coverage is maintained for at least 12 months (See "Last Month Rule"):

https://www.irs.gov/publications/p969

2. On page 250 of the eBook the professors note states: "Due to the Affordable Care Act, nonprescription medicines are no longer eligible for reimbursement under health FSAs, HRAs, or HSAs unless a physician issues a prescription for the over-the-counter medicine or drug." This was changed by the CARES act, see below: https://www.cnbc.com/2020/04/23/use-your-fsa-or-hsa-funds-for-over-the-counter-medications.html

https://hsastore.com/hsa-eligibility-list/o/over-the-counter-items

estaff

That's a great question @Joshua10813023, I'm tagging @RSeton_StuAlum to help answer it for you.