Changes to OTC purchases with FSAs and HSAs
It’s open enrollment time for Shane’s employer, so we’re reviewing our benefits and making changes. One change we’ll need to consider: the Affordable Care Act is now law, so there are changes in how we can make over-the-counter medication purchases with our flexible spending accounts.
Previously, you could use your FSA to buy things like Tylenol, bandages, first-aid supplies, contact lens solution and plenty more. If I had money left over in my account at the end of the year, I stocked up on those supplies.
But now, we will need a doctor’s prescription to buy those OTC things.
Here is some info from our FSA that you can visit for further information, and here’s a helpful sheet that breaks down what’s covered and what’s not.
I’m still trying to figure out what this will mean for how much we should contribute to our FSA for the year.
Additional related posts:
