IRS ruling permits reimbursement in health accounts
Sunday, September 21st 2003, 12:00 am
By: News On 6
A new Internal Revenue Service ruling should ease the pain of some Oklahomans buying nonprescription drugs.
The I-R-S has decided that over-the-counter drugs qualify for reimbursement from flexible health care spending accounts.
I-R-S officials say the decision was partly because of the increasing number of prescription drugs moving to over-the-counter status. they include allergy medication Claritin and heartburn reliever Prilosec.
The drugs generally are cheaper as a nonprescription medicine. But the consumer's out-of-pocket costs can increase because insurance no longer pays for the medication.
The decision is expected to boost use of the flexible-spending accounts, which are offered by most employers.