Pandemic Eradication and Enhanced Prevention through Savings Act or the PEEPS Act This bill allows payment in 2020 of health insurance premiums from specified health care plans, including flexible savings accounts. It also allows payment of premiums in 2020 and 2021 for individuals not eligible for employer-sponsored coverage and allows participation in health savings accounts that do not require payment of a deductible. The bill denies coverage as a medical expense, for purposes of a health savings account, the cost of an abortion or the cost of insurance that includes abortion coverage, with exceptions for rape, incest, or health of the mother.