NACDS wants clarification on FSA/HSAs
This article was originally published in The Tan Sheet
Executive SummaryThe 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
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