Industry Supports Bill for Tax-Deductible HSA, FSA Supplements Coverage

The Natural Products Association (NPA; Washington, DC) has endorsed a legislative bill recently proposed by U.S. Senator Orrin Hatch (R-UT) and U.S. Representative Erik Paulsen (R-MN) to extend Health Spending Account (HSA) and Flex Spending Arrangement (FSA) coverage to dietary supplements.

NPA’s executive director and CEO John Gay said about the Family and Retirement Health Investment Act of 2011, “The Natural Products Association supports legislation introduced in Congress by Senator Orrin Hatch and Representative Erik Paulsen that would allow Americans to use their Health Spending Account and Flex Spending Arrangement dollars on dietary supplements and meal-replacement products. We believe this would be an important step in promoting preventative health and wellness, and reducing overall healthcare costs.

“Current law allows these dollars to be spent on prescription drugs but not supplements. NPA supports increased access to supplements as part of our healthcare system so that it is truly a healthcare system and not simply a disease-treatment system. Letting HSA and FSA funds apply to supplements would bring us closer to that goal.

“In the long run, wider use of supplements can lead to substantial healthcare savings. For example, studies have shown that an increase in omega-3 fatty acids can reduce coronary heart disease among people age 65 or older, saving an estimated $3.1 billion. By establishing tax deductibility for specific products through HSAs and FSAs, the legislation encourages preventative care and promotes public health.”