90 Percent Rule Update - IRS NOTICE 2008-104
The IRS has made a significant change pertaining to the implementation date for the 90% rule. The Rule will require that for a pharmacy to be eligible to accept FSA and/or HRA linked debit cards a pharmacy must either have an IIAS in place or have 90% or more of their gross sales from eligible items.
The IRS has offered transition relief by granting a 6 month extension from the original deadline; pharmacies now have until June 30, 2009 to comply with the 90% Rule.
To read IRS Notice 2008-104, click here.