US House Committee OK’s reversal of ban on OTCs in health savings accounts

National Association of Chain Drug Stores (NACDS) President and CEO Steven C. Anderson, IOM, CAE, issued a statement about the U.S. House of Representatives Ways and Means Committee’s passage of the Restoring Access to Medication Act of 2015 (H.R. 1270).

The bill restores over-the-counter (OTC) medications to full tax-preferred status, allowing consumers to use their health savings accounts and flexible spending accounts to pay for these products without first obtaining a prescription. The prescription requirement was imposed through a provision in the Affordable Care Act.

"This issue is essential to many concerns about healthcare, from access to cost-effectiveness. Allowing coverage for OTCs through health savings accounts and flexible spending accounts without a prescription would return some much-needed efficiency and consumer-empowerment in the treatment of easily managed conditions," Anderson said.

"To maximize the use of OTCs for the good of patient health, we urge the full House and the Senate to take prompt action to advance this important return to sound policy."

NACDS has consistently advocated for full tax-preferred status for OTCs. Prior to the Committee’s consideration of H.R. 1270, NACDS joined with the Consumer Healthcare Products Association and a total of 19 members of the Health Choices Coalition to send a letter to the Committee to urge its passage. The Coalition includes groups representing physicians, consumers, retailers, manufacturers, pharmacies, pharmacists, patients, insurers, small businesses and large employers.