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Article: IRS Ruling Allows New Reimbursement in Health Accounts.
- Article from:
- Daily Oklahoman (Oklahoma City, OK)
- Article date:
- September 21, 2003
CopyrightCOPYRIGHT 2003 The Daily Oklahoman. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Don Mecoy
Sep. 21--A recent Internal Revenue Service ruling should ease the pain of some Oklahomans buying nonprescription drugs.
The IRS this month decided that over-the-counter drugs qualify for reimbursement from flexible health care spending accounts.
IRS officials said the decision was partly because of the increasing number of prescription drugs moving to over-the-counter status, such as allergy medication Claritin or heartburn reliever Prilosec.
While such drugs generally are cheaper as a nonprescription medicine, consumer's out-of-pocket costs can increase because insurance no longer pays for the medication.
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