Content about Taxation in the United States

A representative and a senator, both Republicans, recently introduced legislation that would repeal restrictions on health savings accounts and flexible spending accounts in the Patient Protection and Affordable Care Act of 2010 that prohibit the use of HSA and FSA account dollars for the purchase of over-the-counter drugs without a prescription.

HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of mass merchandiser Kmart, is throwing its support behind a bill that would grant states authority to enforce existing sales tax laws and require out-of-state online retailers to collect and remit sales taxes on sales made to their residents.

The Marketplace Fairness Act was sponsored by Sens. Dick Durbin, D-Ill.; Mike Enzi, R-Wyo.; Lamar Alexander, R-Tenn.; and Heidi Heitkamp, D-N.D.; as well as Reps. Steve Womack, R-Ark.; Kristi Noem, R-S.D.; Peter Welch, D-Vt.; and John Conyers, D-Mich.

WASHINGTON — The Supreme Court on Thursday morning identified the Patient Protection and Affordable Care Act as a tax, which means the constitutionality of the healthcare-reform package cannot be addressed until after that tax is assessed.

The court did rule the health insurance mandate, a key part of the Affordable Care Act, as unconstitutional; however, the government will continue to be able to tax people for not having health insurance.

WASHINGTON — The House of Representatives on Thursday passed the Protect Medical Innovation Act of 2012 by a vote of 270-to-146, which will reinstate over-the-counter medicines as eligible expenses under flexible spending accounts without the requisite prescription established by the Patient Protection and Affordable Care Act last year.

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.

BENTONVILLE, Ark. — Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation services and free in-store federal form 1040EZ filing. The retailer also will provide $3 and $6 check-cashing services.

"We believe Americans shouldn't have to pay exorbitant prices on their everyday financial needs," almart Financial Services VP Daniel Eckert said. "It's their money and we want to make sure they can cash checks, pay bills and transfer money at a low price."

DALLAS — Employers and consumers alike are adopting health savings accounts as a viable way to manage their healthcare costs without compromising care, according to two national surveys released Thursday.

WASHINGTON — AARP magazine last week identified the top 10 retirement destinations, which potentially could be growth opportunities for pharmacy, that offer comfortably affordable lifestyles for seniors.

WHAT IT MEANS AND WHY IT’S IMPORTANT — There are few certainties in life — death, taxes and the fact that you can get one heck of a healthcare bargain at your local pharmacy counter. And thanks in no small part to the industry associations advocating for pharmacy — including the National Association of Chain Drug Stores, the National Community Pharmacists Association and the Consumer Healthcare Products Association — the lawmakers on the Hill are finally “getting it.”

WASHINGTON — The Health Choices Coalition sent a letter to members of Congress, urging them to repeal legislation that limits coverage of over-the-counter medicines.

The coalition is looking to Congress to repeal a provision in the Patient Protection and Affordable Care Act that prevents consumers from using their flexible spending accounts to purchase OTCs without first getting a doctor's prescription. Members of the Health Choices Coalition are urging Congress to take action in order to allow consumers to use their FSAs for OTCs.

The Consumer Healthcare Products Association may not be painting pink Pepto-Bismol mustaches on a group of Hollywood celebrities and professional athletes as part of the new campaign it plans to fully unveil in June, but the goal is more or less the same as the “Got Milk?” ads.

“Got milk?” has become ubiquitous. There is 100% clarity of message. The milk mustache says it all: Milk is an essential food and an integral part of a healthy diet; it HAS TO BE in your refrigerator, on your breakfast table and in your lunch box.

WHAT IT MEANS AND WHY IT’S IMPORTANT — Give a man a doctor’s co-pay, and he is healthy for a day. Give him a health savings account, and that man becomes so much more vested in ensuring positive health outcomes that he may be healthy for a lifetime. Because in the long run, it’s cheaper.

(THE NEWS: HSAs saw dramatic growth in 2010, study finds. For the full story, click here)