HSAs

Proposed changes to Health Savings Accounts (HSAs). Currently, expenses paid for over-the-counter medicine (other than insulin) don’t qualify as medical expenses under HSAs, flexible spending arrangements, and Archer Medical Savings Accounts unless an item is prescribed by a physician. Under a bill approved by the U.S. House of Representatives, nonprescription medicines like allergy medication, aspirin, or pain relievers could be purchased using pretax dollars. The bill would also make other changes to HSAs and medical / health insurance tax breaks.