Posts Tagged: FSA

Mini-Med Waivers and OTC Reimbursements Explained

in Affordable Care Act

As noted previously, IRS announced the OTC reimbursement guidance for health FSAs and HRAs, and HHS announced the mini-med waiver program. Unfortunately, there is not much substance in the guidance, leaving many plan sponsors with numerous questions as they approach annual enrollment. We have posted our Legal Alert on these releases at the link below. Reimbursing OTC Drugs and Applying for Mini-Med Waivers

OTC Guidance Released

in Affordable Care Act, Cafeteria Plans

The Affordable Care Act provides that the cost of an over-the-counter medicine or drug cannot be reimbursed from a health FSA or HRA unless a prescription is obtained. This new rule applies only to purchases made on or after January 1, 2011. Moments ago, the IRS released Notice 2010-59, which provides guidance regarding how this new rule will operate. A link to the guidance is appended below, and we will have additional details regarding the guidance next week. http://www.irs.gov/pub/irs-drop/n-10-59.pdf