Come Jan. 1, a new provision in the federal government’s Patient Protection and Affordable Care Act will prohibit the purchase of over-the-counter (OTCs) medications from HSAs, FSAs, and similar accounts unless you have a doctor’s prescription.
So that means paying for those remedies for tummy troubles and throbbing heads from your HSA or FSA will be off-limits. Your attempt to purchase the products with your HSA or FSA debit card might be blocked, or if the transaction does go through, you might need another stiff drink when you see the stiff penalty you might incur.
But last week, a consortium of pharmacists and grocers asked that the rule be rescinded.
Sorry, credit cardholders, last night’s rate cut was a bailout for investment bankers. Your cut comes tomorrow.