We have the ability to contribute to and use a Flexible Spending Account (Medical) at work. I’ve used it for the past five years for a variety of items to save on taxes. Well, due to the new Healthcare Act, that is supposed to save me money on medical care, I can no longer use it on the majority of my medical expenses. I am thoroughly unhappy about this turn of events.
I’ve only occasionally had to put a large sum of money into the account, mostly related to my extensive dental work. What I do put into it, not only saves me a little in taxes but makes sure the money is there for me to use all year regardless of my other finances. In the past the account could be used for a wide variety of over-the-counter items such as allergy and cold medications. These are basically the items I spend most of my money on, as I have “Michigan Nose” which translates to “chronic allergy and sinus issues”.
When Zyrtec went from a prescription to over-the-counter I was annoyed because it was the one allergy medication that worked well for me without making my sleepy. Unfortunately, as a prescription I had a $10 co-pay for 30 pills, now it costs $24 for 30 pills and some months I have to take two pills a day. With the new Act I can no longer use my Flex Spending to purchase Zyrtec or my Sinus Headache medication.
While this isn’t going to break me, I don’t see how this Act is saving me money. I am now considering trying to find another allergy medication that is prescription based, this will save ME money, but not the medical insurance costs.