Restricting consumers’ ability to utilize their own FSAs and HSAs and other tax-preferred accounts impose an unfair cost increase on individuals and families at a time when many are struggling financially.
CHPA applauds Representative Lynn Jenkins on her recent introduction of H.R. 4618 which will provide two years of tax relief for millions of consumers by allowing them, once again, to use their existing HSAs and FSAs to purchase OTC medicines.
The reason we’re here today is to discuss a provision of the Affordable Care Act that requires holders of tax‐preferred healthcare accounts to seek a prescription if they wish to use those accounts to purchase an OTC medicine. We believe this requirement is bad policy for both the American consumer and the U.S. healthcare system.