President Trump signed The CARES ACT (COVID-3 Stimulus Bill) into law late Friday. The Act permanently reinstates coverage of OTC (Over the Counter) drugs and medicines as eligible for reimbursement from FSAs, HSAs, IRS Code 213(d) HRAs and Archer MSAs without need for a prescription. It further expands the definition of qualified OTC items to include menstrual care products. This change is effective for expenses incurred on or after January 1, 2020.
GDI is ready to process reimbursement requests for OTC items we receive via the portal, fax, email or mail. Participants will not be able to use their debit cards for these expanded items until The Special Interest Group for IIAS Standards (SIGIS) updates the industry-wide database of eligible products and participating merchants implement the new list. SIGIS is starting the process to create the list and is working closely with its members to complete this task
t is important to emphasize that each merchant will adhere to their own timeline for completion of this process based on their own internal considerations.
The adoption of this change requires an update to your plan documents. We will work to get the required documents to you unless you notify us otherwise.
Please reach out to your Account Manager or any member of our Client Services team should you have any questions or require additional support.
Client Service Team
Group Dynamic, Inc.