Homeopathic OTC Medicine Eligible for Tax Benefit

The Coronavirus Aid Relief Economic Security Act (CARES) was signed into law in March.  As part of this legislation, consumers can now receive reimbursement for OTC (over-the-counter) medicines using pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA).  OTC drugs, including homeopathic OTC products, are eligible without the necessity of a prescription from a healthcare professional.

Furthermore, for the first time, expenses for menstrual care products are added to the list of eligible items under an FSA, certain HRAs, and HSAs.

The law is retroactive, such that any qualified OTC purchase since January 1, 2020 can be reimbursed through these pre-tax funds. No end date has been given at this time.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s