The IRS has just announced that many over-the-counter (OTC) drugs can now be paid for with pre-tax dollars through your Flexible Spending Account. OTC drugs include many drugs that previously were prescription drugs, such as Claritin and Advil, as well as items such as cold or cough medicine, pain relievers, allergy medications, and antacids.
OTC items that are merely beneficial to your general health are not covered through your FSA, which include vitamins, toiletries, cosmetics and nutritional supplements. As with all other expenses, you will need to save your receipts for these items and send them in when you submit your FSA claim reimbursement form.
You may find additional information on the OTC announcement at the IRS website located at: www.IRS.gov/newsroom.