House committee approves measure to restore OTC reimbursements under FSAs
WASHINGTON — The House Ways and Means Committee on Thursday approved the Restoring Access to Medication Act (H.R. 5842), which would repeal the provision of the Patient Protection and Affordable Care Act that disqualified expenses for over-the-counter drugs as eligible for reimbursement under health savings accounts and flexible spending arrangements without a prescription.
“Today’s action by the Ways and Means Committee is an important first step in reducing the cost of healthcare for millions of Americans," said Scott Melville, president and CEO for the Consumer Healthcare Products Association. "OTC medicines are a vital part of our nation’s healthcare system and often serve as a first line treatment for many common, self-manageable conditions like colds, allergies, heartburn and headaches.”
According to the CHPA, nearly 10 million Americans used their FSAs to purchase OTC medicines before the Affordable Care Act was enacted.