Updates

HSA Bill to Be Blended With Other Legislation

06/01/2012


June 1, 2012 – H.R. 5842, the Restoring Access to Medication Act, announced earlier this week in Latest News, would repeal the provision of the Patient Protection and Affordable Care Act that requires obtaining a prescription for over-the-counter medications in order for their cost to be considered a qualified medical expense for health savings accounts, Archer medical savings accounts, and health flexible spending account (FSA) purposes. This legislation reportedly will be combined with a bill (H.R. 436) to repeal a special medical device tax that is part of the Affordable Care Act, and legislation (H.R. 1004) that would allow the return of up to $500 per year of unspent health FSA balances to participating employees.

A House vote on this blended bill is expected during the week of June 11. There is no companion Senate legislation on these measures under consideration at this time.


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