Momentum Builds To Allow Pre-Tax OTC Purchases Without Prescriptions
This article was originally published in The Tan Sheet
Executive Summary
A bipartisan, bicameral group of lawmakers introduced legislation July 14 to eliminate the prescription requirement to purchase OTC drugs with pre-tax health savings accounts.
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GOP Health Care Proposal Cuts Rx Requirement To Buy OTCs With Pre-Tax Savings
Repealing the Affordable Care Act “takes the critical step of restoring the ability to use funds” for OTC drugs “as a qualified medical expense,” say GOP leaders. The proposed legislation also would eliminate a tax on Rx drugs and medical devices that industry negotiated in the creation of ACA.
GOP Health Care Proposal Cuts Rx Requirement To Buy OTCs With Pre-Tax Savings
Repealing the Affordable Care Act “takes the critical step of restoring the ability to use funds” for OTC drugs “as a qualified medical expense,” say GOP leaders. The proposed legislation also would eliminate a tax on Rx drugs and medical devices that industry negotiated in the creation of ACA.
Unfettered OTC Purchasing With Pre-Tax Savings Tops CHPA Goals In 2015
CHPA is optimistic 2015 is the year “common sense” will restore OTC eligibility for health spending accounts. Speaking on the group’s priorities, President and CEO Scott Melville said CHPA will work to improve the OTC monograph system and to curb cough medicine abuse.