Changes to FSAs and HSAs: Nothing to Sneeze At

By: Donna Ray Berkelhammer. This was posted Thursday, September 16th, 2010

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Many employees take advantage of Flexible Spending Accounts

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Comments:

  • OTC meds are no longer eligible, but other OTC medical supplies are. The following was in a bank’s HSA brochure on this topic:

    Eligibility of Over-the-Counter (OTC) items effective January 1, 2011 Healthcare reform legislation signed into law in March 2010 impacts OTC purchases with HSAs beginning January 1, 2011. While some OTC items will maintain current eligibility status, certain drugs and medicines will require a prescription to be considered an eligible expense.

    Eligible over-the-counter items:
    Band aids
    Birth control
    Braces and supports
    Contact lens solution and supplies
    Elastic bandages and wraps
    First aid supplies
    Reading glasses

    Ineligible over-the-counter medications
    (unless accompanied by a prescription):
    Acid controllers
    Acne medication
    Allergy and sinus
    Antibiotics
    Anti-itch and insect bite
    Cough, cold and flu medicine
    Eye drops
    Indigestion
    Laxatives
    Motion sickness
    Nasal sprays
    Ointments and creams
    Pain relief
    Respiratory treatments
    Sleep aids and sedatives
    Stomach remedies

    Posted by: New Info | September 22nd, 2010 at 1:02 pm
     
  • Hi. I read a few of your other posts and wanted to know if you would be interested in exchanging blogroll links?

    Posted by: Offers in Compromise | September 20th, 2010 at 1:57 pm
     
  • A thoughtful opinion and idea I will use on my blog. You’ve obviously spent a lot of time on this. Thanks

    Posted by: web host | September 17th, 2010 at 9:53 am
     
  • Interesting subject. The marajuana users in my group like to talk about this.

    Posted by: Self Help | September 16th, 2010 at 9:35 pm
     
  • ohhh nice info

    Posted by: IRS Wage Garnishments | September 16th, 2010 at 3:23 pm
     

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