Bill Seek Repeal of OTC Exclusion and End to FSA "Use or Lose" Clause
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Last week, Senator Ben Cardin (D-MD) and Senator Mike Enzi (R-WY) introduced S. 1404, the Medical Flexible Spending Account Improvement Act of 2011, a bill that would allow employees to pay taxes on and withdraw any unused funds in their employer-sponsored FSAs at the end of the year. Current rules require that any leftover balance in an FSA must be forfeited to the employer at the end of the plan year, hence the "use it or lose it" rule. This bill is the Senate companion to H.R. 1004, introduced earlier this year by Representative Charles Boustany (R-LA) and Representative John Larson (D-CT).
In an effort to repeal Section 9003 of PPACA that requires individuals to obtain a physician prescription to receive reimbursement through an FSA and HSA to purchase OTC medications, bipartisan legislation was introduced this month. The Restoring Access to Medication Act (S. 1368 / H.R. 2529) is lead by Senators Pat Roberts (R-KS) and Ben Nelson (D-NE), and Representatives Lynn Jenkins (R-KS) and Shelley Berkley (D-NV). Additional senators and representatives have joined in cosponsoring the legislation.
We encourage you to contact your legislators in Washington, and ask them to actively endorse these bills.
In an effort to repeal Section 9003 of PPACA that requires individuals to obtain a physician prescription to receive reimbursement through an FSA and HSA to purchase OTC medications, bipartisan legislation was introduced this month. The Restoring Access to Medication Act (S. 1368 / H.R. 2529) is lead by Senators Pat Roberts (R-KS) and Ben Nelson (D-NE), and Representatives Lynn Jenkins (R-KS) and Shelley Berkley (D-NV). Additional senators and representatives have joined in cosponsoring the legislation.
We encourage you to contact your legislators in Washington, and ask them to actively endorse these bills.
To locate contact information for your members of the House of Representatives, click here.
To locate contact information for your Senators, click here.