Tell your FSA customers to stock-up on OTC medications!
Posted by Russell Brown on Thu, Jun 10, 2010 @ 01:02 PM
That's right, one of the features of the health reform bill is that many OTC medications will no longer be tax-exempt, meaning ineligible for FSA/HRA/HSA card purchases, starting January 1, 2011. As a pharmacist, you'll want to advise your customers of this impending change and suggest they use their Flexible Spending Account (FSA) dollars before December 31 to stock up for the cold/flu season. Some may elect to take this one step further by increasing their prices on these items in the fourth quarter, knowing customers will be motivated to buy.
What type of items will no longer be eligible? General cold/flu/pain medications such as Tylenol and Advil. The only way these items can be purchased with an FSA card is with a doctor's prescription.
What will still be eligible? Non-medical or drug items such as contact lens solution, gauze, bandages.
How will this affect your Emporos point of sale system? We will automatically update your system's Eligible Items List on January 1, 2011, or as soon as the data is provided to us by SIGIS.
For more information about the list of items ineligible and the List update, read SIGIS' press release.