- Bargaineering - http://www.bargaineering.com/articles -
Over-The-Counter Not Eligible for Flexible Spending Accounts in 2011
Posted By Jim On 09/22/2010 @ 7:36 am In Insurance | 51 Comments
The Patient Protection and Affordable Care Act  signed by President Obama in March made a bunch of major changes to health care in America and one of them was to flexible spending accounts. Starting in 2011, over-the-counter products will not be eligible for flexible spending accounts. In fact, they will not be reimbursable under FSAs, health savings accounts (HSA), or health reimbursement arrangements (HRA) unless they are prescribed by a physician. There is only one exception and that’s for insulin.
This means that the days of loading up on band-aids, Tylenol and Advil, and other products you pick up in the drug section of your supermarket are no longer eligible unless your doctor prescribes it. While the rules on what is necessary documentation for reimbursement have yet to be introduced, this might start introducing additional paperwork at the doctor’s office. Advising to take two aspirin and calling it a day might have to come with a prescription.
Also, annual contribution limits to your FSA will be limited to $2,500 a year.
Article printed from Bargaineering: http://www.bargaineering.com/articles
URL to article: http://www.bargaineering.com/articles/overthecounter-eligible-flexible-spending-accounts.html
URLs in this post:
 Tweet: http://twitter.com/share
 Email: mailto:?subject=http://www.bargaineering.com/articles/overthecounter-eligible-flexible-spending-accounts.html
 Patient Protection and Affordable Care Act: http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act
Thank you for reading!