DISQUS

Pinyo · 2 years ago

Hi Flexo, thank you for featuring Patrick's and my blog in your post. Re FSA, I am all out this year, but I will definitely need help next year since I bumped it up considerably.

Chief Family Officer · 2 years ago

Flexo - Have they changed the rules on OTC stuff? I thought things like cold medicines could only be deducted if they are needed immediately.

Flexo · 2 years ago

CFO: Interesting, I'll have to check on that. Not that I advocate lying, but how do you prove whether the medicine is needed immediately? Here's the best or most appropriate information I could find, from Benefit Resource, Inc.:

Can I purchase large quantities of OTC items?


Reasonable quantities of OTC items are reimbursable if purchased for either existing or imminent medical conditions. If large quantities are necessary for the treatment of an existing condition, the medical practitioner must indicate on the Certification of Medical Necessity form that the quantity being purchased is necessary for the treatment of the diagnosed medical condition.

It seems to me that if you stick to "reasonable quantities" rather than "large quantities," at least when it comes to cold medicine at the end of the year, you could easily argue that that colds and influenza are imminent.

Note that OTC expenses cannot be *deducted* (when you itemize your deductions on your tax return), but they can be *reimbursed* via the flexible spending account.

Chief Family Officer · 2 years ago

I like your argument, Flexo - I think it's totally legit. I've already had the flu twice this season, so I totally buy the "imminent" argument. Thanks!