1. Short title This Act may be cited as the Pandemic Eradication and Enhanced Prevention through Savings Act or the PEEPS Act . 2. Modifications of HSAs, Archer MSAs, and FSAs (a) COBRA coverage (1) HSA Section 223(d)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following: (E) COBRA coverage Subparagraph (B) shall not apply to amounts paid during calendar year 2020 for premiums for coverage under a group health plan pursuant to section 4980B(f). . (2) FSA Section 106 of such Code is amended by adding at the end the following: (h) FSA payments for cobra coverage A plan shall not fail to be treated as a health flexible spending arrangement under this section merely because such plan provides for a distribution during calendar year 2020 to make payments for premiums for coverage under a group health plan pursuant to section 4980B(f). . (b) Health insurance premiums for those not covered by employer-Sponsored health plan during 2020 (1) HSA Section 223(d)(2) of such Code, as amended by subsection (a), is amended by adding at the end the following: (F) Health insurance premiums for those not covered by employer-sponsored coverage in 2020 Subparagraph (B) shall not apply to amounts paid during calendar year 2020 for premiums for coverage under a health plan for any month for which the health plan of the individual— (i) is not an employer-sponsored health plan, and (ii) does not include coverage for abortions (other than any abortion necessary to save the life of the mother or any abortion with respect to a pregnancy that is the result of an act of rape or incest). . (2) Archer MSA Section 220(d)(2) of such Code is amended by adding at the end the following: (D) Health insurance premiums for those not covered by employer-sponsored coverage in 2020 Subparagraph (B) shall not apply to amounts paid during calendar year 2020 for premiums for coverage under a high deductible health plan for any month for which the health plan of the individual— (i) is not an employer-sponsored health plan, and