Tax Changes to Healthcare Savings and Spending Accounts
Medical savings accounts (MSAs), health savings accounts (HSAs), health reimbursement arrangements (HRAs), and flexible spending accounts (FSAs) may reimburse people for over-the-counter medications ONLY when a doctor prescribes them. If money is used for nonqualified expenses, the penalty increases to 20 percent of the amount taken out.
Medical-Loss Ratio Requirement
For large employer plans, insurers must spend at least 85 percent of all premium dollars on healthcare services and healthcare quality improvement. For plans sold to individuals and small employers, insurers must spend at least 80 percent of the premium on benefits and quality improvement. If insurers do not meet these goals, they must provide rebates to consumers.