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MBI and Familymeds announce on-line pharmacy partnership

Published in Medical Letter on the CDC and FDA, December 7th, 2003

MBI, a provider of flexible spending account (FSAs) and health reimbursement arrangement debit cards, announced that they have formed a partnership with Familymeds, an on-line pharmacy company.

This partnership, which allows MBI Flex Convenience cardholders to purchase over-the-counter (OTC) health-related products at the Familymeds' specially designed website, is an industry first and, according to MBI, a substantial breakthrough for third-party administrators that manage FSAs.

The relationship between MBI and Familymeds was forged in response the Internal Revenue Service ruling that allows many over-the-counter medications to be paid with FSA...

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