Effective January 1, 2020 the COVID-19 Cares Act Bill included two key provisions.
The changes include:
Over the Counter (OTC) Rx Repeal: Prescriptions or doctor’s notes will no longer be required for over-the-counter (OTC) drugs, including items like Tylenol, Claritin, Antacid, etc. when purchased with an FSA or HSA.
FSA and HSA OTC drug purchases have required a prescription or doctor’s note since 2011 per the Patient Protection and Affordable Care Act. This relief will mean that Americans with FSAs and HSAs can now buy the OTC medicines they need to stay healthy.
Menstrual Care Products: The bill expands the definition of qualified OTC items to include menstrual care products as eligible under an FSA or HSA.
Employees should consider the new OTC rules when estimating the amount to put into their FSAs, HSAs or HRAs for the next plan year.
Advanced Benefit Strategies, Inc. Recognized by WEX for Outstanding Achievements
Earns Marketing Innovator Award
Unionville, CT — May 17, 2022 — Advanced Benefit Strategies, Inc. has been honored by WEX (NYSE: WEX) with a 2021 Partner Award for outstanding business achievements. Advanced benefit Strategies, Inc. recently received the Partner Award for Marketing Innovator from WEX, the global commerce platform that simplifies the business of running a business.
Advanced Benefit Strategies, Inc. was selected for this award because of its efforts in working with WEX to reach — and surpass — new heights in the consumer-driven healthcare market. Advanced Benefit Strategies, Inc. utilizes innovation and creativity to increase plan adoption and revenue generation.
The Partner Awards, established in 2008, are presented yearly and recognize WEX partner organizations that have achieved extraordinary notable accomplishments. Award recipients were recognized for reaching significant milestones in 2021 across several areas including growth, advocacy, leadership, innovation, and customer service as well as overall outstanding partner successes.
The 2021 Partner Awards were presented in nine categories: Sales Innovator, Service Innovator, Marketing Innovator, Visionary, Leadership, COBRA Partner of the Year, CDH Platform Partner of the Year, New Partner of the Year, and Partner of the Year.