- healthcare related article
IRS Issues Additional Guidance on use of Debit Cards to Purchase OTC Drugs
IRS Notice 2011-5 (Dec. 23, 2010)
The IRS has issued a notice that provides additional guidance on the use of health FSA and HRA debit cards to purchase over-the-counter medicines and drugs (OTC drugs). The notice modifies IRS guidance that was issued earlier this year regarding health care reform's prescription requirement for OTC drugs and allows the use of debit cards to purchase prescribed OTC drugs after January 15, 2011 if certain requirements are met. The IRS has also updated its Q&As on OTC medicines and drugs.
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