May 25, 2022
Good news for healthcare access and affordability: If you have a flexible spending arrangement (FSA) or health savings account (HSA) you can now use these pre-tax savings for purchasing over-the-counter medicines.
FSAs, HSAs, and other tax-preferred accounts are valuable programs allowing you to save money by setting aside pre-tax dollars in order to pay for health-related expenses.
As of January 1, 2020, you may now, once again, use these accounts to pay for over-the-counter (OTC) medicines and menstrual products.
Connect with your healthcare plan administrator to confirm the eligibility of specific products and additional benefits under your specific plan.
Curious about how this came to be? The FSA/HSA eligibility of OTC medicines and menstrual care products was included within the Coronavirus Aid, Relief, and Economic Securities (CARES) Act passed in March 2020. View our FAQs for more background.
FSAs/HSAs are a valued employee benefit across the workforce that provides important savings opportunities for individuals and families. Now, millions of Americans can better manage and plan their healthcare expenses by using pre-tax funds for menstrual care products and OTC medicines that save them time and money.