IRS Provides Clarification on Spending Accounts and Medical Expenses
On March 6, 2024, the Internal Revenue Service (IRS) released a news alert (IR-2024-65) reminding taxpayers and health plan spending account administrators that personal expenses for “health and wellness” are not medical expenses as defined by the Internal Revenue Code (IRC). These types of expenses are not reimbursable under health flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), or health savings accounts (HSAs).
To learn more about medical expenses related to nutrition, wellness, and general health, and to determine whether a food or wellness expense is a qualified reimbursable medical expense, visit the frequently asked questions page on the IRS website.
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