Washington, D.C.—Legislation (S.4463) introduced this week in the U.S. Senate by Senator Kevin Cramer (R-ND) would expand health savings accounts (HSA), health reimbursement arrangements, and flexible spending accounts (FSA) to cover dietary supplements. The Natural Products Association (NPA) issued a press release thanking Senator Cramer and his staff for “wanting to expand choices for hundreds of millions of Americans who use supplements to stay healthy in this challenging time.”
NPA reported that S.4463 – A bill to amend the Internal Revenue Code of 1986 to include certain over-the-counter dietary supplement products as qualified medical expenses defines the term “dietary supplement product” as a nutritional product that is labeled with a statement describing how the product is intended to affect the structure or function of the human body or a statement characterizing the mechanism by which the product acts to maintain such structure or function.
“The COVID-19 pandemic has taught us that we need to be giving people more avenues and opportunities to save money in preventative health care costs,” said Daniel Fabricant, Ph.D., President and CEO of NPA, in the release. “This is a commonsense solution that will save patients and taxpayers money. Too much of our focus in this country is on disease treatment rather than prevention. This simple change in our regulations promotes the proactive, preventive approach that we need to adopt if we wish to improve our nation’s health and manage healthcare costs.”
Senator Cramer, in a press release from his office, said, “Nutritional supplements help lower health care costs and keep Americans healthy. By modernizing the rules for savings and spending accounts, our bill would save taxpayer funds, increase consumer choice, and encourage people to invest in their health and wellness.”