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US IRS now favors drugs over wellness - March 2024


IRS Cracks Down on Deductions for Healthy Food, Exercise as Childhood Chronic Disease Epidemic Explodes

ChildrenHealthDefense
Includes a link to the 40 minute podcast

  • "March 6 IRS “reminder” warning that people who use health savings accounts (HSAs) and flexible spending accounts (FSAs) will no longer be able to deduct “nutrition, wellness and general health” expenses — even if a doctor provides a note recommending them — unless they are “related to a targeted diagnosis-specific activity or treatment.”"
    • that is, no longer allowing you to deduct for wellness. You have to be sick first
  • "Gym memberships can count as a medical expense only if recommended by a doctor for the sole purpose of treating an injury or a specific medical condition like obesity or hypertension, according to The Washington Post, which reported on the IRS alert."
  • "...the IRS alert sets a higher bar for using these accounts for preventive measures, such as healthy food and fitness, than it does for drugs such as Ozempic, a popular weight-loss medication."
  • "Means told Kennedy that Americans have $150 billion in health-related tax-advantaged accounts, which may be why a “pharmaceutical lobbyist who was upset with what we [Truemed] were doing tipped off the IRS.”

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US IRS now favors drugs over wellness - March 2024        
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