Can i use flex pay on over the counter drugs?

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Mercedes Green asked a question: Can i use flex pay on over the counter drugs?
Asked By: Mercedes Green
Date created: Mon, May 31, 2021 1:10 PM
Date updated: Tue, Jul 12, 2022 4:59 PM

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Top best answers to the question «Can i use flex pay on over the counter drugs»

  • You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you’re married, and your dependents. You can spend FSA funds to pay deductibles and copayments, but not for insurance premiums. You can spend FSA funds on prescription medications, as well as over-the-counter medicines with a doctor's prescription.

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to enroll in a health care Flexible Spending Account (FSA)! Non-prescription, over-the-counter (OTC) drugs and medicines are now reimbursable under health Flexible Spending Accounts (FSAs). When you enroll in a health care FSA, you can use pre-tax dollars to pay for eligible medical expenses, such as: • Copayments/deductibles • Prescriptions • Certain over-the-counter drugs

Currently eligible over-the-counter (OTC) products that are medicines or drugs (e.g., acne treatments, allergy and cold medicines, antacids, etc.) will not be eligible for reimbursement from your Health Care FSA - unless, you have a prescription for that item written by your physician. You cannot use your Benny card for this purchase.

Thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act, you can use your FSA or HSA funds to buy over-the-counter medications without a prescription, like Tylenol and other pain...

Yes. You can use your FSA funds for over-the-counter (OTC) items, supplies, drugs and medicines (if they’re considered eligible under your plan).

Effective Jan. 1, 2011, distributions from health FSAs and HRAs will be allowed to reimburse the cost of over-the-counter medicines or drugs only if they are purchased with a prescription. This new rule does not apply to reimbursements for the cost of insulin, which will continue to be permitted, even if purchased without a prescription. 2.

Over-the-counter medicine is eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA) and limited care flexible spending account (LCFSA). Over-the-counter (OTC) medicine is not eligible for reimbursement with a dependent care flexible spending account (DCFSA).

Over-the-counter (OTC) medicine is not eligible for reimbursement with a dependent care flexible spending account (DCFSA). As of March 2020 with the passage of the CARES Act, the OTC Rx requirement has been repealed and prescriptions are no longer necessary to purchase over-the-counter medicines with an FSA or HSA.

If you have a health savings account (HSA) or flexible spending account (FSA), you can now use those funds for several common over the counter (OTC) drugs, medicines, and products.

The same rules applied for flexible spending accounts (FSAs)—pre-tax financial accounts often offered by employers.   If you were dealing with heartburn, for example, you wouldn’t be able to use your HSA money to cover an over-the-counter drug like Tums or Prilosec. Instead, you’d have to pay for it out of pocket.

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