Return Of Buying OTC Drugs With Pre-Tax Accounts Slow To Dawn On Consumers After 10-Year Sunset
"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.
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It’s unlikely any industry stakeholder or FDA official expected a bill providing emergency economic relief to consumers, industries and health care services and facilities in response to a pandemic, including extensive support opportunities for small businesses, would be the vehicle that delivers on both of the industry’s congressional wishes. The supplement industry also looks for help in CARES Act.
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.
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.