On July 6, 2016, the House of Representatives passed a significant piece of legislation that affects millions of Americans who receive employer benefits.
H.R. 1270, the Restoring Access to Medication and Improving Health Savings Act of 2016, was first introduced in March 2015, and passed the House this July with a vote of 243-164. The bill is designed to overturn an Affordable Care Act (ACA) provision that limits reimbursements from flexible spending arrangements (FSA), health reimbursement arrangements (HRA), and health savings accounts (HSA) for drugs and medicines to only prescription drugs or insulin (thereby disqualifying expenses for over-the-counter drugs and medicines). If approved, the bill provides that reimbursements for over-the-counter drug and medicine purchases will be permitted after December 31, 2016.
The next step is approval by the Senate, however, according to the Employers Council on Flexible Compensation (ECFC), the bill will probably not receive prompt consideration. ECFC anticipates that H.R. 1270 “will be in the mix at the end of the year as Congress looks to pass end of the year legislation in a lame duck session.”
DataPath is proud to be an active member of ECFC. We will provide updates on this important legislation as moves through Congress.
About Employers Council on Flexible Compensation
The Employers Council on Flexible Compensation (ECFC) is a non-profit organization dedicated to the maintenance and expansion of private employee benefit programs on a tax-advantaged basis. The organization has two driving missions. The first is to represent and promote flexible compensation programs through effective lobbying. The second is to provide information on flexible compensation programs to member, national opinion leaders and the general public to help create a positive climate for the growth of flexible compensation.