Changes to Flex Spending Accounts in 2011

[ThomD]

This just floated across my radar at work:

Effective January 1, 2011 over-the-counter (OTC) medications and drugs without a prescription will not be reimbursable through the healthcare FSA. Other OTC items such as bandages and contact lens solution are still eligible. OTC produces such as cold medicines, aspirins, etc., will not be reimbursable under the FSA plan on or after January 1, 2011

That's right folks - those fancy First Aid kits qualify under Flex Spending rules (and will continue to do so in 2011), but aspirin is off the chart in 2011.

 

[James86004]

This just floated across my radar at work:



That's right folks - those fancy First Aid kits qualify under Flex Spending rules (and will continue to do so in 2011), but aspirin is off the chart in 2011.

We had a benefits fair yesterday, and learned that OTC meds can still be covered if you get a prescription. The FSA account administrator told us it would be worthwhile getting one for our allergy meds since they are kind of expensive. All we have to do is fax the prescription into their office with our receipt, and we will get reimbursed.

In other words, all Congress did in this case was create more paperwork.

 

[MuckSavage]

My wife handles the Flex Spend account at our office & she made me aware of this. I didn't know that OTC would be reimbursed if you had a prescription. Good Knowledge to have!

 

[ThomD]

Good clarification. I've never had a script for OTC meds (and I figure most people don't), so I glossed over that.