Changes in your flexible spending account or health savings account

Beginning Jan. 1, the costs of over-the-counter medications only will be reimbursed through a Flexible Spending Account or Health Reimbursement Account if the medications are purchased with a doctor's prescription. These restrictions do not apply to the purchase of insulin.<br>
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The Internal Revenue Service has questions and answers on the new rules for these <a href="http://www.irs.gov/newsroom/article/0,,id=227308,00.html">accounts</a>. (Jargon note: Flexible spending accounts are sometimes called 'flexible spending arrangements.' Health reimbursement accounts are sometimes called "health reimbursement arrangements" or "health savings accounts.")
os-2011-health-care-changes-02

Beginning Jan. 1, the costs of over-the-counter medications only will be reimbursed through a Flexible Spending Account or Health Reimbursement Account if the medications are purchased with a doctor's prescription. These restrictions do not apply to the purchase of insulin.

The Internal Revenue Service has questions and answers on the new rules for these accounts. (Jargon note: Flexible spending accounts are sometimes called 'flexible spending arrangements.' Health reimbursement accounts are sometimes called "health reimbursement arrangements" or "health savings accounts.")

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