The IRS has released their changes relating to Flex Spending Accounts for the 2011 tax season. These regulations and changes relate to such tax avoidance accounts as Health Savings Accounts (HSA) and Archer Medical Savings Accounts (MSA). Purchases of over the counter drugs NOT requiring a prescription will no longer be included as qualifying purchases. Nonprescription Insulin, medical devices, contact lenses, eye glasses, and Co-pays for doctor visits DO still qualify. See IRS publication 969 for complete program details.
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