Over-the-Counter Medications and Your FSA or HRA...
Health Care Reform Restrictions Beginning 1/1/2011
By Chrystine M. Heier, CEBS, LIA
Co-Founder and Principal, Sullivan Benefits
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Beginning January 1, 2011 your employees won't be able to use health care FSA or HRA funds to purchase most over-the-counter (OTC) medicines or drugs unless they have a prescription. Similarly, these items will not be reimbursable on a tax-favored basis under Health Savings Accounts (HSAs) or Archer Medical Savings Accounts (MSAs).
The Patient Protection and Affordable Care Act (PPACA) revised the definition of "qualified medical expenses"; under IRC Section 106(f), reimbursement for expenses incurred for a medicine or a drug shall be treated as a reimbursement for medical expenses only if such medicine or drug is a prescribed drug (determined without regard to whether such drug is available without a prescription) or is insulin. The new restrictions do not apply to over-the-counter medical devices and supplies; equipment such as crutches, bandages and diagnostic devices will still qualify for reimbursement.
The above changes are effective for all expenses incurred for OTC medicines or drugs after December 31, 2010, including those purchased within an employer's 2 ½ month FSA grace period, if offered. Read More.
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Cold and Flu Season
By Nan Maley, R.N.
Corporate Wellness Director, Sullivan Benefits
What is the difference between a cold and the flu?
The flu and the common cold are both respiratory illnesses but they are caused by different viruses. Because these two types of illnesses have similar flu-like symptoms, it can be difficult to tell the difference between them based on symptoms alone. In general, the flu is worse than the common cold, and symptoms such as fever, body aches, extreme tiredness, and dry cough are more common and intense. Colds are usually milder than the flu. People with colds are more likely to have a runny or stuffy nose. Colds generally do not result in serious health problems, such as pneumonia, bacterial infections, or hospitalizations. Read More.
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