A bipartisan bill unveiled by U.S. Rep. Darin LaHood (R-IL) to reduce medication costs became law as part of the recently signed Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Rep. LaHood in March signed on as an original cosponsor of the Restoring Access to Medication Act of 2019, H.R. 1922, with bill sponsor U.S. Rep. Ron Kind (D-WI), to allow certain over-the-counter medical products as qualified medical expenses.
Reps. LaHood and Kind were joined in advancing the bill by U.S. Reps. Jackie Walorski (R-IN) and Grace Meng (D-NY), while U.S. Sens. Pat Roberts (R-KS), Joni Ernst (R-IA), Angus King (I-ME) and Joe Manchin (D-WV) championed the bill from the Senate.
Specifically, the legislation repeals provisions of the Internal Revenue Code, as added by the Patient Protection and Affordable Care Act, that limit payments for medications from health savings accounts (HSAs), medical savings accounts, health flexible spending arrangements, and health reimbursement arrangements to only prescription drugs or insulin, which allows distributions from such accounts for over-the-counter (OTC) drugs, according to the congressional record summary.
“As families and patients navigate this challenging time, it’s vital that they have continued access to quality health care at an affordable cost, and health savings accounts are an essential resource for doing that,” said Rep. LaHood. “This commonsense and bipartisan bill will ensure over-the-counter medicines can be purchased through HSAs, expanding access to care and reducing out-of-pocket health care costs.”
With the president’s signature making the CARES Act a new federal law last month, Rep. LaHood’s included bill will help make it easier for patients to treat themselves, allow individuals to use their HSA to buy OTC medicine, and free up medical resources for those who need them most during the COVID-19 pandemic, according to the congressman’s office.
“People are looking for support and relief during this time of uncertainty, and we must provide them with every tool we can. I am pleased that the legislation I authored will help Illinoisans and Americans, as we work together to combat COVID-19,” Rep. LaHood said.