U.S. Reps. Darin LaHood (R-IL) and Jackie Walorski (R-IN) on March 27 introduced a bipartisan proposal that would amend federal law to include certain over-the-counter (OTC) medical products as qualified medical expenses.
The Restoring Access to Medication Act of 2019, H.R. 1922, for which Reps. LaHood and Walorski are original cosponsors, would permit individuals to use Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) to purchase OTC medications and menstrual care products. U.S. Rep. Ron Kind (D-WI) sponsored the bill.
According to the members, more than 22 million Americans use HSAs and over 33 million Americans contribute to an FSA.
“For millions of Americans, HSAs and FSAs are critical tools to pay for health care, but currently they can’t be used to buy over-the-counter medications,” Rep. Walorski said. “Restoring this eligibility and expanding it to feminine hygiene products would improve both access and affordability.”
Rep. LaHood said that many Americans rely on OTC medicines and H.R. 1922 would ensure they could be purchased through HSAs, which he also called “essential tools individuals and families use to receive quality healthcare needs at an affordable cost.”
“This is a bipartisan, commonsense way to lower costs and give consumers more control over their health care,” added Rep. Walorski.
Rep. Kind said that as families across the United States struggle to pay the costs of rising deductions and out-of-pocket expenses, the bill could allow them “to use their savings accounts to purchase the items they need to stay healthy, for less money.”
H.R. 1922 is under review by the U.S. House Ways and Means Committee.
“As we work to expand access to care while reducing costs, this bill takes an important step,” said Rep. LaHood, “and is a win for working families across this country.”