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.
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