IRS Announces FSA and Parking/Transit Adjustments for 2021

Open Enrollment season is underway for your new Plan Year and in these unprecedented times, we want to make sure you have everything you need to make your enrollment a success.

Attention HRA, HSA, & FSA Plans
OTC Now OK Without RX

OTC expenses have required a prescription to be eligible under FSAs, HSAs and HRAs since 2011 per the Patient Protection and Affordable Care.  The CARES Act passed last week in response to the COVID-19 crisis permanently removed this requirement, so prescriptions are no longer required.  It also expanded the definition of eligible expenses to include menstrual care products.

The following IRS Code Sections were amended to REMOVE the requirement for a prescription for over the counter expenses to be considered eligible medicines or drugs.  They were each also amended to ADD menstrual care products as eligible medical expenses.