BERKELEY HEIGHTS, N.J. (TheStreet) -- Flexible Savings Arrangements were modified starting Jan. 1, a result of the health care legislation enacted a year ago, with over-the-counter medicines no longer qualifying for reimbursement unless you have a prescription. The only exception to the rule is insulin.The new rule affects only purchases made after Jan. 1, though, so over-the-counter purchases made last year could still be reimbursed if allowed by an employer's FSA plan. (It should be noted this same rule also applies to Medical Savings Accounts, Health Savings Accounts and Health Reimbursement Arrangements.)
|Nonprescription, over-the-counter drugs are no longer reimbursed through Flexible Savings Arrangements and the like, but the plans still have value.|
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