Restoring OTC Eligibility For Health Savings Could Fly During Lame Duck Session
This article was originally published in The Pink Sheet Daily
Rep. Barrow says congressional gridlock is blocking the Restoring Access to Medication Act, but there is hope for passage during the lame duck session. CHPA and self-care advocates discuss the need for the change and the value of OTCs during briefing marking International Self-Care Day.
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"Because of what a lot of consumers are facing right now, layoffs, furloughs, working online, they may not be aware of how this health savings account benefit can serve them at this time,” says Finance Bar CEO Marsha Barnes. CHPA is preparing digital campaign to explain that health savings, flexible spending and similar pre-tax accounts once again can be used for direct purchases of OTC drugs.
The Consumer Healthcare Products Association’s No. 1 legislative priority in 2014 is restoring OTC coverage by flexible spending and health savings accounts, followed by a “close No. 2” goal of establishing an age requirement to buy DXM products. Other goals include protecting access to PSE products and blocking take-back programs.
Information from the CHPA-commissioned study could help improve policymakers’ understanding of the costs of making OTCs less available as well as the benefits of more Rx-to-OTC switches.