Bills moving through Congress would lift some restrictions on flexible savings accounts, letting employees allocate pre-tax earnings to pay for out-of-pocket healthcare expenses, according to a Minnesota Public Radio report.
Many companies include flexible savings accounts as part of employer-sponsored health plans to keep employee healthcare costs down. The introduction of the federal health reform law, however, has prevented consumers from using flexible savings accounts to pay for over-the-counter medicine without a physician's prescription.
Some members of Congress have introduced bills that would repeal these restrictions. Minnesota Republican Congressman Erik Paulsen introduced a bill in Feb. 2011 that would allow consumers to use flexible savings accounts for over-the-counter medicine and remove a $2,500 contribution limit on consumers.
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Many companies include flexible savings accounts as part of employer-sponsored health plans to keep employee healthcare costs down. The introduction of the federal health reform law, however, has prevented consumers from using flexible savings accounts to pay for over-the-counter medicine without a physician's prescription.
Some members of Congress have introduced bills that would repeal these restrictions. Minnesota Republican Congressman Erik Paulsen introduced a bill in Feb. 2011 that would allow consumers to use flexible savings accounts for over-the-counter medicine and remove a $2,500 contribution limit on consumers.
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