Obamacare’s Medicine Cabinet Tax Hit Millions on Jan. 1 [The Reckoning Continues.]

ATR ^ | 2011-01-17 | Ryan Ellis

[92nina]

Due to an Obamacare tax hike which took effect on January 1, Americans are no longer able to use their Flexible Spending Account (FSA) and Health Savings Account (HSA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (with the exception of insulin).

Under the pre-Obamacare rules, health consumers could use these pre-tax accounts to purchase non-prescription, over-the-counter medicines. But starting on New Years Day 2011, the 40 million Americans who use FSAs and HSAs (including 5.7 million HSAs with $7.7 billion in combined assets) were no longer be able to use their accounts to buy simple, everyday medicines...

Read more: http://www.atr.org/obamacares-medicine-cabinet-tax-hit-millions-a5764#ixzz1BJob0H4g

[92nina]

The unwinding of American healthcare continues.

Take the fight to the Libs on their own turf; put the Left on the defensive at at Digg and at Reddit and in Delicious and Stumbleupon

[Monitor]

After a cardiac cath which resulted in two stents, my cardiologist had me speak with a nutritionist before I left the hospital, who told me to take a multi-vitamin, two fish-oil pills and low-dose aspirin each day. I have, until now, used my HSA to purchase these items.

Given that I can no longer do that (gee, thanks for all of your "help" Obama! ), I think I will ask my GP for prescriptions for these items the next time I see him.

[Some Fat Guy in L.A.]

This is why I didn’t renew my HSA this year - what good is it? I’d rather have the money in my pocket.