The proposed bill aims to amend Arkansas law to allow qualifying patients or their designated caregivers to purchase medical marijuana using funds from flexible spending accounts (FSAs) or health savings accounts (HSAs). The bill introduces a new section to the Arkansas Code, specifically defining what constitutes a flexible spending account and a health savings account, in accordance with the Internal Revenue Code and relevant health insurance criteria.

Under the new provisions, qualifying patients or designated caregivers, as defined by the Arkansas Medical Marijuana Amendment of 2016, will be permitted to utilize these financial accounts for the purchase of medical marijuana. This change is intended to enhance access to medical marijuana for those who meet the eligibility requirements, thereby providing a financial avenue for patients to manage their medical expenses related to cannabis use.