Flex Funds Tightened by the Feds

Consumers are about to experience greatly reduced flexible spending accounts for purchases of over-the-counter pain relievers, cough syrup, and various first aid supplies purchased.

Beginning January 1 this year patients will need a doctor’s prescription to be reimbursed for over-the-counter drugs. This new law is an according to the federal affordable care act, which was signed into law last spring and raises revenue placing tighter rules on the flex plan tax break while also introducing new benefits as well.

Flex funds for big-ticket expenses should be planned carefully so you know how much to set aside each year to afford them. Something such as LASIK eye surgery in Houston may require you to set aside extra funds.