January 2012 Wellness Newsletter
Information to achieve better health
Eligible and Non-Eligible FSA/HSA Expenses and OTC Products
This documents list the eligible and non-eligible FSA and HSA expenses and OTC Products
Instructions for Applying for EFAST2 Credentials
EFAST2 is a system designed by the Department of Labor, Internal Revenue Service and Pension Benefit Guaranty Corporation to simplify and expedite the submission, receipt and processing the Form 5500 and Form 5500-SF.
New Legislation for OTCs
The health care reform legislation known as the Patient Protection Affordable Care Act (PPACA) was signed by President Barack Obama on March 23, 2010. Several provisions of this legislation have a direct impact on Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA) and Health Savings Accounts (HSA). Many of the changes take place over the next several years. However the first provision, which affects how over-the-counter (OTC) medicines or drugs can be reimbursed through these accounts, goes into effect January 1, 2011.
Health Care Reform Law Timeline
H.R. 3590 "THE REFORM ACT" (PATIENT PROTECTION & AFFORDABLE CARE ACT) H.R. 4872 "THE RECONCILIATION ACT" (THE HEALTH CARE RECONCILIATION ACT)
Health Care Reform Needs To Be Based On Common Sense Changes To System
Well-intentioned federal legislation in the 1970s legalizing health maintenance organizations, or HMOs, has had the unintended consequence of entrusting insurance companies with too many insurance premium dollars. Flexible spending accounts, health reimbursement arrangements and health savings accounts are growing in popularity since they allow pretax payment of personal medical bills.
