From my Flex Spending Account (i.e., pre-tax healthcare spending account) provider:
The latest health care reform bills, the Patient Protection and Affordable Care Act were signed into law in March, 2010 by President Obama. This new legislation impacts how OTC medicines and drugs are treated with respect to your healthcare savings or flexible spending account beginning January 1, 2011. Specifically, OTC drugs and medicines will be considered ineligible beginning January 1, 2011 unless you have a prescription from your physician.
Starting next year, if I or anyone in my family gets a cold and I want to purchase cough syrup, I will either have to forego the tax savings or make an appointment for the sick person to see a doctor to get a prescription (for cough syrup!). And…Obamacare is going to reduce the cost of healthcare how, exactly??? I guess the cost increase due to a higher demand for doctors for previously unnecessary visits will be paid for with the additional income taxes that the rest of us will now have to pay.
7:35 pm on October 3, 2010
