Making Some Supplements Eligible For US Pre-Tax Savings Accounts Proposed Again In Congress
Dietary supplements would be covered in pre-tax health savings accounts under Senate legislation. Industry groups say the health and economic impact of COVID-19 makes including supplements in the accounts more important.
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Support from members of both parties is a good start, supplement industry trade groups say, but reaching a finish line of passing a bill on its own doesn’t appear likely in 2021, while the odds might be better on adding the legislation as a provision to a broader bill.
Hemp-Derived CBD bill either provides exact solution US needs for lawful use of cannabinoids as dietary ingredients or falls well short, depending on the trade group. Legislation to expand health savings accounts to include vitamin, mineral and supplement products reached Senate floor vote before failing.
Republicans in Senate voted against majority Democrat’s proposal to use budget reconciliation for passing pandemic relief legislation, but two GOP members introduced amendment for buying supplements with HSAs because the process is an opportunity to introduce proposals not directly related economic stimulus.