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CARES Act Reinstates Over-the-Counter (OTC) Medications Reimbursement

Wednesday, April 1, 2020
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Part of the CARES Act (COVID-3 Stimulus Bill), that was recently passed, has reinstated the coverage for Over-the-Counter (OTC) medications and drugs for reimbursement from HSAs, FSAs, and Archer MSAs (unless your plan excludes OTC items). These items can be purchased with funds from eligible accounts without needing a prescription. Additionally, the bill expands OTC items to include menstrual care products.

According to the law, this change is effective for items purchased on or after January 1, 2020. Merchants will need to update the list of eligible products and implement that list. This process will likely take place over the next 4-6 weeks.

 

Source: Infisource

Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.

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