Using HSAs, Health FSAs and HRAs for Over-the-Counter Items
Health savings accounts (HSAs), health flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs) may provide tax-free reimbursements of certain over-the-counter (OTC) items. OTC items are generally available to consumers without a prescription. To be reimbursable, an OTC item must be for “medical care,” as defined under Internal Revenue Code (Code) Section 213(d). Medical care […]