Health Care Alert: Navigating Health Care Reform (September 22, 2010)
IRS Issues Guidance on Health Care Reform Over-the-Counter Drug Restrictions
September 22, 2010
The Patient Protection and Affordable Care Act (the “Affordable Care Act”) added a new Section 106(f) to the Internal Revenue Code (the “Code”). Under Section 106(f), a new uniform standard applies to health flexible spending accounts (“health FSAs”) and health reimbursement arrangements (“HRAs”). Under the new standard, the cost of an over-the-counter medicine or drug cannot be reimbursed from the account unless a prescription is obtained.
©2024 Snell & Wilmer L.L.P. All rights reserved. The purpose of this publication is to provide readers with information on current topics of general interest and nothing herein shall be construed to create, offer, or memorialize the existence of an attorney-client relationship. The content should not be considered legal advice or opinion, because it may not apply to the specific facts of a particular matter. As guidance in areas is constantly changing and evolving, you should consider checking for updated guidance, or consult with legal counsel, before making any decisions.