Products November 5, 2003

MBI, Familymeds Form Web Pharmacy Partnership

November 5, 2003 (PLANSPONSOR.com) - Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) debit card provider MBI has teamed up with online pharmacy company Familymeds.

Reported by

Eric Hazard

The partnership will allow MBI Flex Convenience cardholders to purchase over-the-counter (OTC) health-related products at the Familymeds’ specially designed Web site. The partnership was forged following the Internal Revenue Service’s (IRS) announcement that OTC medications can be paid for with FSA funds (See FSA Paybacks Now Cover Non-Prescription Drugs ), according to a news release.

The companies hope to expand their partnership to include Familymeds’retail pharmacies in early 2004. More information is available by contactingRees PinneywithFamilymeds at (860) 676-1222 xt. 134.