Flex Spend and HSA Rules to change as of December 31,2010.
THis week we received a letter from our HSA that Over the Counter healthcare expenses are changing as of December 31. In March 2010, President Obama signed Public law 111-148, Section 9003 into law.
The law states what is defined as an Over the Counter medication. It reads in part " reimbursement for expenses incurred for a medicine or drug shall be treated as a reimbursement for medical expenses only if such medicine or drug is prescriped( determined without regard to whether such drug is available without a prescription) or is insulin".
Under this new law any over the counter medication that you buy, will need a LETTER OF NECESSITY from your physician. The prescription will need the following information. 1) The individuals name and the medicine you or your family require. 2) The dosage, frequency for each over the counter medicine needed.
Below is a small list of OTC that WILL require a prescription.
Acid Controllers, Allergy and Sinus Mediciations, Antibiotic Products, Anti-Gas and Diarrheals, Anti-Itch and Insect Bite, Baby Rash Ointments and Creams, Cough, Cold and Flu medications, Digestive Aids, Laxatives, Pain Releif, Respiratory Treatments, Sleep Aids and Stomach remedies.
Remember you can still buy these products until December 31, 2010 without a prescription.
information received from flexsystem HSA
THis week we received a letter from our HSA that Over the Counter healthcare expenses are changing as of December 31. In March 2010, President Obama signed Public law 111-148, Section 9003 into law.
The law states what is defined as an Over the Counter medication. It reads in part " reimbursement for expenses incurred for a medicine or drug shall be treated as a reimbursement for medical expenses only if such medicine or drug is prescriped( determined without regard to whether such drug is available without a prescription) or is insulin".
Under this new law any over the counter medication that you buy, will need a LETTER OF NECESSITY from your physician. The prescription will need the following information. 1) The individuals name and the medicine you or your family require. 2) The dosage, frequency for each over the counter medicine needed.
Below is a small list of OTC that WILL require a prescription.
Acid Controllers, Allergy and Sinus Mediciations, Antibiotic Products, Anti-Gas and Diarrheals, Anti-Itch and Insect Bite, Baby Rash Ointments and Creams, Cough, Cold and Flu medications, Digestive Aids, Laxatives, Pain Releif, Respiratory Treatments, Sleep Aids and Stomach remedies.
Remember you can still buy these products until December 31, 2010 without a prescription.
information received from flexsystem HSA
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