FDA approves OTC daily oral contraceptive; IRS issues draft forms for ACA reporting FDA approves first over-the-counter daily oral contraceptive On July 13, the U.S. Food and Drug Administration approved the first nonprescription daily oral contraceptive to prevent pregnancy. This drug is expected to become available to consumers without a prescription from stores and online retailers in early 2024. Insurance coverage The Affordable Care Act requires most group health plans and health insurance issuers to provide first-dollar coverage of certain specified preventive services for women, including all FDA-approved contraceptives, as prescribed by a healthcare provider. The ACA’s contraceptive coverage mandate does not cover over-the-counter oral contraceptives that are obtained without a prescription. It is possible that the Biden administration or Congress will take action to expand insurance coverage of over-the-counter oral contraceptives. In the meantime, employers should revi...