Each year, 240 million Americans use over-the-counter (OTC) medicines as treatment for a range of health and wellness needs. As our nation searches for cost-effective and convenient healthcare options, the value of OTC medicines cannot be overlooked.
• For every dollar spent on OTC medicines, the U.S. healthcare system saves $6 to 7.
• This adds up to $102 billion in annual savings relative to alternatives.
But, in 2011, Congress removed OTC medicine eligibility under tax-preferred accounts, including flexible spending arrangements (FSAs) or health savings accounts (HSAs), unless the medicine was purchased with prescription – an unnecessary burden on consumers and health professionals. 45 million individuals have HSAs and FSAs for their healthcare spending for themselves and their families.
Support 'The Restoring Access to Medication Act,' which would reinstate OTC eligibility and allow FSA and HSA holders to use tax-preferred accounts to purchase OTC medicines.
To whom it may concern:
In 2011, a provision in the Affordable Care Act removed over-the-counter medicine eligibility under tax-preferred accounts, including flexible spending arrangements (FSAs) and health savings accounts (HSAs), unless the medicine was purchased with a doctor’s prescription. This affects the more than 45 million Americans who have tax-preferred accounts for their healthcare spending.
'The Restoring Access to Medication Act' (S. 1647 and H.R. 2835), introduced by Sens. Pat Roberts (R-Kan.) and Mary Landrieu (D-La.) and Reps. Lynn Jenkins (R-Kan.) and John Barrow (D-Ga.), would reinstate over-the-counter (OTC) medicines' eligibility and allow FSA and HSA holders to use their tax-preferred accounts to purchase OTC medicines.
For every dollar spent on OTC medicines, the U.S. healthcare system saves $6 to 7. This adds up to $102 billion in annual savings relative to alternatives, including less time off of work and reduced doctor visits.
OTC medicines are a safe, effective, and integral part of our healthcare system. In addition to saving billions in annual healthcare system costs, they provide a preferred and convenient treatment option for the vast majority of Americans. In fact, 93 percent of consumers prefer to treat their own minor ailments with OTC medicines before seeking professional care.
Please support 'The Restoring Access to Medication Act' (S. 1647 and H.R. 2835) and allow American families to once again use their FSA and HSA funds on OTC medicines.
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Sincerely,
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