Providing High Value, OTC Drugs Deserve Higher Profile In Health Care – CHPA
While Rx drug pricing is under attack by Congress, White House and consumer and public health advocacy groups, OTC drugs' value isn't gaining a higher profile. "Our health care system undervalues the contribution of our industry's products," says CHPA chief Scott Melville. Trade group conducts “Value of OTC Medicines" study for reasons including raising the profile of consumer health products in the US health care system.
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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.
Tax-policy provision in Coronavirus Aid, Relief and Economic Security Act, which the Finance Committee calls Congress’ phase 3 coronavirus response, would change current language in Internal Revenue Service rules for HSAs, FSAs, Archer medical savings accounts and other health reimbursement arrangements to allow directly buying OTC drugs and would extend the categories of covered products to include tampons and other menstrual care products.
Health And Wellness Industry News: Restoring Access Bill Introduced, Another Dietary Fiber Meets FDA Definition, More
Restoring Access to OTC bill introduced; West Virginia is 18th state to prohibit sales of DXM-containing cough suppressant to minors without a prescription; American Botanical Council presents Norman R. Farnsworth Excellence Award to Swiss pharmacist Otto Sticher; FDA adds another fiber to definition of dietary fiber; and Jarrow probiotics top ConsumerLab brand survey.