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Senate Proposes Restoring Direct OTC Purchases With Pre-tax Savings In Covid-19 Response Bill

Executive Summary

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.

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