Content about FSA

November 14, 2010

A panel of healthcare thought leaders has concluded that a recent IRS rule change going...

WASHINGTON — A panel of healthcare thought leaders has concluded that a recent IRS rule change going into effect Jan. 14, 2011, will demand retail system challenges that are operationally impossible to overcome in the limited time frame required.

And the National Association of Chain Drug Stores couldn’t agree more.

November 11, 2010

There’s been quite an uproar following healthcare reform’s flexible spending account proposal that in January...

WHAT IT MEANS AND WHY IT’S IMPORTANT — There’s been quite an uproar following healthcare reform’s flexible spending account proposal that in January will force consumers to spend upward of $40 on doctor visit co-pays in order to save some $2.50 for every $10 spent on nonprescription items.

November 10, 2010

Save Flexible Spending Plans — a national grassroots advocacy organization sponsored by the Employers Council...

WASHINGTON Save Flexible Spending Plans — a national grassroots advocacy organization sponsored by the Employers Council on Flexible Compensation — on Thursday called on the new leaders in Congress to follow through on their campaign promises and fix problems with the healthcare-reform law, including the removal of to-be-imposed restrictions on employer-provided flexible spending accounts.

 

November 9, 2010

Drugstore.com on Tuesday released a statement reminding flexible spending account participants that they need to...

BELLEVUE, Wash. Drugstore.com on Tuesday released a statement reminding flexible spending account participants that they need to use the money left in their accounts by the end of the year or they will lose it.

 

October 27, 2010

A New York Times report published Tuesday illustrated exactly how far apart the rubber is...

October 10, 2010

The new prescription requirement for over-the-counter medicines under flexible spending accounts, part of the new...

WASHINGTON Drug Store News, for the simple reason that the change actually hurts the people health reform was supposed to help—patients looking to save money on healthcare costs. —The new prescription requirement for over-the-counter medicines under flexible spending accounts, part of the new Affordable Care Act, may amount to bad medicine, many industry pundits have told

And the ramifications of that simple requirement also will be felt across the retail pharmacies that those in search of healthcare savings patronize.

September 26, 2010

As I write this column, it’s the final Super Tuesday primaries in eight states, including...

As I write this column, it’s the final Super Tuesday primaries in eight states, including here in New York, before the big mid-term elections in November. And if the Sunday morning news shows are right, the Democrats are in for a spanking. Given the present state of the economy, the stagnant job market and the American electorate’s need to find someone to blame, it’s really kind of inevitable.

September 13, 2010

The Internal Revenue Service earlier this month issued guidance reflecting statutory changes regarding the use...

WASHINGTON The Internal Revenue Service earlier this month issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements, to pay for over-the-counter medicines and drugs.

March 14, 2010

Executives from H-E-B, Kerr Drug and Fruth Pharmacy, as well as OTC suppliers, discussed the issues in OTC aisles in a sluggish economy; and as the category faces a shift to wellness care, the possible demise of FSA accounts and an increasing Rx-to-OTC switch market.

Executives from H-E-B, Kerr Drug and Fruth Pharmacy, as well as OTC suppliers, discussed the issues in OTC aisles in a sluggish economy; and as the category faces a shift to wellness care, the possible demise of FSA accounts and an increasing Rx-to-OTC switch market. Click below to download the free PDF of the Drug Store News Virtual OTC Roundtable.

November 22, 2009

The simple fact is that healthcare reform in this country has to be paid for...

NEW YORK The simple fact is that healthcare reform in this country has to be paid for somehow. But cutting OTCs out of FSAs amounts to an additional healthcare tax levied against Americans actually trying to save money on health care today. That’s just backward thinking.

September 20, 2009

Determining just how much FSAs are utilized in the purchase of OTCs has always been...

NEW YORK Determining just how much FSAs are utilized in the purchase of OTCs has always been somewhat of a fuzzy science. Thanks to the U.S. Joint Committee on Taxation, we now have a government source suggesting that about $460 million per year in sales tax revenues would have been generated in the ensuing five years. Using state sales tax rates as of July 2009, the mean average tax across all 50 states plus the District of Columbia is 5.1%.

August 2, 2009

Beyond small business being lost in the big government shuffle, NCPA’s emphasis on this issue...

NEW YORK Beyond small business being lost in the big government shuffle, NCPA’s emphasis on this issue only stresses the importance behind over-the-counter medicines and the class of medicine inclusion as an eligible expense under flexible spending accounts.

 

Because, really, there can be only one impetus behind this letter — one of many customers walked into their local community pharmacy attempting to use an FSA debit card and had to be turned away.

 

July 12, 2009

There are a number of conclusions you can glean from the NCPA’s announcement, which runs...

NEW YORK There are a number of conclusions you can glean from the NCPA’s announcement, which runs counter to a Senate proposal to remove over-the-counter medicines as reimbursable expenses under flexible spending accounts/health savings accounts as a way to help pay for healthcare reform.