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Bene-Flex Hawaii, Inc. Announces IRS Changes to OTC!!

On September 4, 2003, the Internal Revenue Service, altered their position regarding OTC "Over the Counter" medicines.  Please follow the link to view

Rev. Rul. 2003-102 (Sept. 3, 2003) and IR-2003-108 (Sept. 3, 2003)
For a copy of Rev. Rul. 2003-102:
http://www.irs.gov/pub/irs-drop/rr-03-102.pdf
For a copy of the News Release:
http://www.irs.gov/newsroom/article/0,,id=112623,00.html

The general view by Cafeteria Plan Administrator's is currently that as long as the OTC purchase is "Medicinal" it should qualify.  If it is preventative or for general health and well being, it WILL NOT qualify.

 

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Last modified: June 2020