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CVS has come up with a new inducement to sign up for and use the drugstore's "ExtraCare" cards: The company will keep track of your purchases of antacids, cough syrup and other over-the-counter health care products.
The target market for the service is workers who have access to employer-sponsored flexible spending accounts. The accounts allow workers to pay for health care with pretax dollars. Money is deducted from their paychecks and they are reimbursed when they submit receipts for doctor visits, contact lenses, prescription drugs and other qualifying purchases. Last year, the IRS added over-the-counter health care products to the approved list.
CVS volunteers to make the recordkeeping easy, saying its detailed record of purchases can be submitted for reimbursement in lieu of a stack of receipts. The records are sent by e-mail to customers who request them through the CVS Web site (www.cvs.com) There is one possible drawback: CVS defines health care products broadly, so some items on your record may not qualify for reimbursement if your company's plan is more restrictive.