New Senate bill to expand HSA and FSA coverage to include dietary supplements
U.S. Senator Kevin Cramer (R-ND) reintroduced the bill, previously introduced as S. 1654. The bill would amend the Internal Revenue Code of 1986 to include “over-the-counter dietary supplements products and foods, for special dietary uses as qualified medical expenses.”
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U.S. Senator Kevin Cramer (R-ND) has reintroduced legislation that would allow dietary supplements to be purchased with Health Savings Accounts (HSA), Flexible Savings Accounts (FSA), and Health Reimbursement Arrangements (HRA). The bill, previously introduced as S. 1654, would amend the Internal Revenue Code of 1986 to include “over-the-counter dietary supplements products and foods, for special dietary uses as qualified medical expenses.”
“Nutritional supplements are preventative care, helping lower health care costs by keeping Americans healthy,” said Senator Cramer, in a press release from his office. “By modernizing the rules for savings and spending accounts, my bill would save taxpayer funds, increase consumer choice, and encourage people to invest in their health and wellness.”
According to the press release, the bill has been endorsed by The Natural Products Association (NPA), Swanson Health Products, and the Healthcare Nutrition Council. Jim Hamel, CEO of Fargo-ND-based Swanson Health Products is quoted in the release, stating: “At Swanson Health Products we champion the benefits of the complementary nutrition that vitamins and dietary supplements can offer. We applaud and support Senator Cramer’s initiative to expand US consumers’ access to proactive additions that help people take charge of their health and wellness.”
“Expanding access to nutritional supplements is an innovative solution aimed at keeping more Americans healthy. For years, Senator Cramer has been a natural product industry champion. Senator Cramer is incentivizing healthy choices and expanding consumer choice by introducing legislation making dietary supplements eligible for reimbursement under Health Savings Accounts, Flexible Spending Arrangements, and Health Reimbursement Arrangements. NPA is grateful for Senator Cramer’s leadership and is excited to continue working with him to expand access to nutritional supplements,” said Daniel Fabricant, PhD, president and CEO of NPA, in the press release.
Senate Committee has released the text of 2024 Farm Bill, with changes to hemp regulations
November 19th 2024The U.S. Senate Committee on Agriculture, Nutrition, & Forestry has introduced the Rural Prosperity and Food Security Act, which will serve as the Senate’s draft for the 2024 Farm Bill.
