Tell Congress to Restore Eligibility for Over-the-Counter Medications

FMI has a Call to Action to support bipartisan legislation reinstating over-the-counter (OTC) eligibility for tax-preferred accounts.

Every year, millions of consumers use over-the-counter medications as a cost-effective way to treat minor illnesses like colds, fever and allergies. OTC medicines save consumers an estimated $102 billion annually through avoided doctor visits, increased work productivity and other cost advantages.

For years, more than 19 million American consumers have used their Flex Spending Accounts, Health Savings Accounts and other tax-preferred accounts to pay for OTC medications. To meet this demand, grocery stores offer a wide selection of OTC products and have dedicated significant resources to build point-of-sale systems that quickly verify eligible OTC products for customers when they make their purchases using tax-preferred accounts. Unfortunately, the Patient Protection and Affordable Care Act (PPACA) of 2010 removed OTC medicine eligibility from tax-preferred accounts unless the medicine is purchased with a doctor’s prescription.

Repealing the OTC provision of the PPACA and restoring this cost-savings healthcare benefit makes good sense and will minimize the need for consumers to visit a physician. Click here to send a letter to your Members of Congress urging them to support the bipartisan “Restoring Access to Medications Act,” to help us accomplish this goal.