- December 2010 > Insurance Insights
On January 1, 2011, new regulations go into effect as a result of federal Healthcare Reform legislation that will impact your over-the-counter (OTC) product purchases. The new rules state that any OTC item that is considered a drug or medicine will require a prescription from a doctor in order to be reimbursable under your flexible spending account plan.
The following categories of OTC drugs and medicines will require a prescription in order to be considered an eligible expense beginning January 1, 2011.
The following categories of OTC items will continue to be eligible for reimbursement without a prescription.
An expanded list of eligible expenses is available on the www.utflex.com website.
On January 1, 2011, you can continue to use your PayFlex Debit Card to purchase OTC eligible items at merchants who have an IRS-approved system in place recognizing expenses that can be purchased with your card. These merchants are required by regulation to remove the OTC drugs and medicines from their inventory listings which are not automatically eligible (those which will require a prescription) from their inventory listings starting January 1, 2011, which will cause denials at the point of sale if the card is used.
In order to be reimbursed for an OTC item that is not on the list of IRS approved expenses, keep the following information in mind:
To view more information on the new OTC guidelines, visit www.utflex.com or contact PayFlex Customer Service at 1-866-887-3539.
Dearborn National, the administrator for the UT Life insurance plan, has identified over 25,000 UT employees and retirees who do not have a designated beneficiary on file for their Life and AD&D insurance. If you have not designated a beneficiary at the time of your death, your Life benefits will be distributed in accordance with the laws of the state in which you reside at the time of death. Therefore, to ensure your benefits will be paid according to your wishes, it is important that you choose your beneficiary. Dearborn National has prepared simple and fast instructions to designate your beneficiary online. For more information on how to check your current beneficiary selection or to designate your beneficiary, click here.
You may also contact Dearborn National Customer Service at their toll free phone number at 866-628-2606, Monday through Friday, from 7:00 a.m. to 7:00 p.m. Central Time.
If you have a Benefits question, submit your question by replying to the “newsletter email” or by sending an email to firstname.lastname@example.org.
UT System Employee Benefits Web site: www.utsystem.edu/benefits/
UT System Retirement Programs Web site: www.utretirement.utsystem.edu
Your Local Benefits Office: http://www.utsystem.edu/benefits/contacts#1