Reps. Lynn Jenkins (R-Kan.) and John Barrow (D-Ga.) recently introduced a bill that would repeal a portion of the Affordable Care Act that prohibits individuals from using their medical savings accounts to purchase over-the-counter medications.
The proposed bill, the Restoring Access to Medication Act, would give Americans the ability to use the money in certain dedicated accounts to buy OTC pharmacy items such as aspirin, cold medicine and allergy pills.
“With nearly 50 million Americans using medical savings accounts to manage their rising healthcare costs, the Restore Access to Medication Act will put consumers back in the driver’s seat and also provide savings to our medical system,” Jenkins said. “Folks are already facing higher premiums, and requiring an unnecessary prescription for aspirin only costs families more. Congress should be doing everything we can to mitigate the negative effects from the president’s healthcare law, and this bill helps do just that.”
A recent study conducted by the Consumer Healthcare Products Association found that OTC medicines contribute a total of $102 billion each year in savings and cost avoidance to the health care system. The study showed that for every dollar spent on OTC medicines, the health care system saves between $6 and $7.
A broad coalition of groups support the legislation, including the U.S. Chamber of Commerce and several pharmacist groups, drug store organizations and consumer groups.