The House Ways and Means Committee on Thursday approved the Restoring Access to Medication Act (H.R. 5842), which would repeal the provision of the Patient Protection and Affordable Care Act that disqualified expenses for over-the-counter drugs as eligible for reimbursement under health savings accounts and flexible spending arrangements without a prescription.
The House of Representatives will vote to repeal limitations on the use of tax-advantaged accounts for the purchase of over-the-counter medications as early as June 4, according to a report published online by The Hill, a Washington, D.C.-based political newspaper.
Drug maker Apricus Biosciences will receive regulatory guidance from the Food and Drug Administration in July that will contain feedback concerning the drug maker's plans to seek approval for a nail fungus treatment.
Despite predictions that consumers in recessionary times would flock to cheaper over-the-counter drugs, the world's over-the-counter drug market grew just 3.5% in the past three years, according a report released by Kalorama Information.
One of the long-term goals of many drug companies has been to win Food and Drug Administration approval for cholesterol-lowering statins as over-the-counter drugs. But it's a goal that has long eluded them due to the agency's concerns about patient safety.
The Food and Drug Administration has provided guidance to Provectus Pharmaceuticals as the drug maker prepares to apply with the agency for approval to start a late-stage clinical trial of a drug for skin cancer, Provectus said Wednesday.
If the ultimate goal of the Affordable Care Act is to save money and expand patient care, then making patients visit their physicians and get prescriptions just to get reimbursed for over-the-counter medications — which wastes money, as well as the time of physicians, a precious commodity when the country is set to have a shortage of them — makes no sense.
The National Association of Chain Drug Stores announced on Thursday its support of legislation that seeks to repeal a provision of the Patient Protection and Affordable Care Act, which requires consumers to obtain a prescription to use their flexible spending accounts for over-the-counter medication purchases.