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drugstore.com Pharmacist Available to Provide Tips On Maximizing FSAs for 2004 and 2005 Tax Seasons.


drugstore.com, inc. (Nasdaq:DSCM):

--It's Tax Season! Are Consumers Saving As Much Money As They Can?

--Did you know that diaper cream, contact lenses, and even the Philips HeartStart Home Defibrillator are eligible for coverage under many flexible-spending account (FSA FSA - Fabless Semiconductor Association
FSA - Faculty Service Area
FSA - Faculty Study Abroad
FSA - Family Separation Allowance
FSA - Family Service America
FSA - Family Services Association
FSA - Farm Safety Association
FSA - Farm Security Administration
FSA - Farm Security Agency
FSA - Farm Service Agency (USDA)
FSA - Federal Savings Association
FSA - Federal Security Agency
FSA - Federal Seed Act of 1939
FSA - Federal Space Agency (Russia)
) programs?
WHAT: Popular flexible-spending accounts (FSA) allow consumers to take
      pre-tax dollars and deposit them into an account with their
      employer. Employees then submit receipts of health-related
      expenses for reimbursement, up to a specific amount set by the
      employer under IRS regulations.

      Learn:

      --  Which over-the-counter medicines are now covered under new
          IRS guidelines,

      --  How consumers can realize an average net tax savings of $284
          by enrolling in an FSA,

      --  How to simplify the record-keeping and reimbursement
          processes, and

      --  Which receipts should be saved for tax purposes.

WHO:  Chris Pierce, RPh, licensed pharmacist at the drugstore.com(TM)
      Web Store, a leading online provider of health, beauty, vision,
      and pharmacy products

WHY:  Only about 20% of the 100 million Americans who are eligible
      currently take advantage of FSAs.  With the April 15 tax
      deadline just around the corner, Chris Pierce, RPh of the
      drugstore.com Internet pharmacy, can discuss how FSA
      participation translates into savings on Americans' tax bills.

      Here are some quick FSA facts:

      --  FSAs Can Save Money: An employee making $35,000 a year who
          contributed to a health care FSA (average annual
          contribution of approximately $1,292), would see a net tax
          savings of $284. (Source: Employee Benefit Research
          Institute)

      --  Many Everyday Health Items Are Now FSA-Eligible: FSAs were
          greatly enhanced in September 2003, when the IRS added
          certain over-the-counter medicines to the list of products
          eligible for coverage. These include: cough, cold and
          allergy products, antacids, pain relievers, first-aid
          products, and many more. Many FSA plans even cover the
          Philips HeartStart Home Defibrillator. (Source:
          drugstore.com, inc. and Employee Benefit Research Institute)

      --  No More Multiple Paper Receipts To Keep and Maintain: The
          drugstore.com Web Store offers an FSA Store that groups
          FSA-eligible products together and allows online shoppers
          to obtain a single receipt for all FSA-tagged purchases.

WHEN: April 4 to 15, 2005
      Phone interviews can be scheduled at your convenience.

COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 5, 2005
Words:356
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