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  • Flexible Spending Accounts (FSA) Eligible Expenses to Change in 2011

    Flexible Spending Accounts (FSA) Eligible Expenses to Change in 2011

    Based on recent healthcare legislation, Congress had determined that over the counter prescription (OTC) drugs will no longer be an eligible expense under an FSA (Flexible Spending Account) plan.    This change will become effective on January 1, 2011.

     Insulin and all health related supplies (such as syringes) will continue to be an eligible expense.  Any OTC for which you have a physician’s prescription or letter of medical necessity will be covered as an exception.

    According to a recent study, this change in law regarding FSA eligible expenses will not greatly impact the reimbursements for and tax advantages of FSA enrollment, as there will most likely be other expenses that could be used to fill any void. 

    If you are enrolled in an  FSA or Health Savings Account, Health Reimbursment Account , please contact your health insurance broker or employee benefit advisor for information, or contact our office at (888) 474-6627.

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