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Zane Benefits Publishes Information About Over-the-Counter (OTC) Medicines, Drugs and HRAs
Date:12/4/2012

(PRWEB) December 04, 2012

Zane Benefits, the leader in Defined Contribution Healthcare and Health Reimbursement Arrangements (HRAs), today published FAQs regarding medications and HRAs.

The Zane Benefits Claims and Participant Support department is frequently asked "can over-the-counter medicines and drugs still be reimbursed through an HRA?"

The answer is yes, with a "but". Due to health care reform, the IRS now requires all over-the-counter medications to include a doctor's prescription in order to be to be reimbursed through an HRA.

OVERVIEW OF HRAS, OTC MEDICINES AND DRUGS

Section 9003 of the Affordable Care Act established a new uniform standard for medical expenses. Effective January 1, 2011, distributions from HRAs will be allowed to reimburse the cost of over-the-counter medicines or drugs only if they are purchased with a prescription. This new rule does not apply to reimbursements for the cost of insulin, which will continue to be permitted, even if purchased without a prescription.

The IRS clarified that for the purpose of over-the-counter expenses, a prescription means “a written or electronic order for a medicine or drug that meets the legal requirements of a prescription in the state in which the medical expense is incurred and that is issued by an individual who is legally authorized to issue a prescription in that state.”

HOW THE NEW HRA OTC RULE WORKS

Under the new rule, before an HRA can reimburse you for an over-the-counter medicine or drug purchase, you must
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