Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

NACDS wants clarification on FSA/HSAs

This article was originally published in The Tan Sheet

Executive Summary

The National Association of Chain Drug Stores asks the Internal Revenue Service to clarify health care reform law regulations so flexible spending and health reimbursement accounts can be used for OTC drug purchases where pharmacists validate a prescription at points of sale. The group's Oct. 19 letter also says in the event IRS does not clarify the FSA/HSA use for OTCs, the agency should delay the effective date of the provisions longer than the proposed two-week delay. The provisions are among the Patient Protection and Affordable Care Act components effective Jan. 1, 2011. The act limits OTC purchases with FSA and HSAs to those prescribed by doctors (1"The Tan Sheet" March 29, 2010). NACDS says a delay also is needed to make pharmacy dispensing systems and the Inventory Information Approval System, a network for retailers that accept FSAs and HSAs, agree on which drugs the act allows for purchases with the accounts

You may also be interested in...



Upton Bests Barton For Energy And Commerce Chair

"Industry-friendly" Rep. Fred Upton will head the Energy and Commerce Committee.

Health Reform Opens NRT Coverage In 2014, Hamstrings OTC HSA Eligibility

The health care reform law now enacted significantly restricts health savings and flexible spending account eligibility for OTC drugs, allowing reimbursement only of nonprescription drugs prescribed by a doctor

Long Hot Summer For Novel Drug Reviews Forecast At US FDA

Submission surge in late 2019 means a spike in late summer 2020 user fee goals, including 16 novel agents in August alone.

Topics

UsernamePublicRestriction

Register

PS104629

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel