However, as YNN television reports, recent changes to flexible spending accounts may create new confusion, and new tax liabilities. For example:
As of January 1st, over-the-counter drugs were not supposed to be covered under flexible spending accounts, but things like contact solution and band-aids were still eligible. Even pharmacists say keeping it all straight is proving to be a challenge.
For more information on health care spending accounts and eligible expenses, check out the above link. In addition, make sure to obtain competent tax law and financial advice from a qualified attorney or accountant.