Legislation seeks to repeal FSA OTC Prescription Requirement
The over-the-counter prescription requirement for Flexible Spending Accounts (FSAs) is on the chopping block. Bipartisan legislation introduced in the U.S. Senate asks to repeal the 2011 requirement introduced by the Patient Protection and Affordable Care Act (PPACA or ACA).
This is not the first repeal effort of the OTC prescription provision. Under the current provision enforced since 2011, over-the-counter medications require a prescription to be reimbursed with an FSA. Advil, Tylenol and Zyrtec are a few examples of drugs that require a prescription for an FSA. In response, FSAstore.com introduced an Rx Process to help FSA holders submit their prescriptions for FSA reimbursement. Learn more about getting reimbursed for FSA OTC prescriptions.
One of the bill's sponsors, Sen. Pat Roberts (R-Kan.) introduced the bill, S. 1647, to help FSA holders regain access to OTC drugs. Roberts said the provision is not only a hassle for FSA holders, but also “adds yet another burden to physicians." He added, “Rather than promoting cost-effectiveness and accessibility, this provision (in the current law) directs people to potentially more costly, less convenient and more time-consuming alternatives."
To keep track of the bill's progress, go here. We'll let you know about any changes right on the FSAstore.com blog and you can browse thousands of FSA eligible products at FSAstore.com that don't require a prescription!