Canoga Park, CA (PRWEB) July 23, 2013
Its often been said that good health is priceless. However true that is, weight loss comes at a cost. Luckily, medical weight loss programs might actually cost less than you think. Lots of people dont know about the deductions and cost savings they may be able to get from their medical weight loss plan. 101 Medical Weight Loss offers advice for savings on the following three structures: HSAs / MSAs, FSAs, and the itemized medical expense deduction.
HSAs / MSAs: A Health Savings Account (HSA) or Medical Savings Account (MSA) is a tax-exempt account established exclusively for the purpose of paying for “qualified medical expenses” of the account owner. So, an HSA or MSA allows individuals to save for such qualified medical expenses with pre-tax money. Your medical weight-loss program may qualify.
According to the Internal Revenue Service (IRS), You can include in medical expenses amounts you pay to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, or heart disease). If this sounds like your situation, then you should contact your tax advisor and physician to see whether a HSA or MSA might help pay for your medical weight loss program costs.
Of course, your tax advisor and/or employer can also explain some of the differences between HSAs and MSAs, so you should consult their expertise to determine the option(s) that might apply to you.
FSAs: A Flexible Spending Account, or FSA, is another pre-tax program designed to provide some of the benefits of HSAs and MSAs. These pre-date the HSAs/MSAs by several years, and also have a use-it-or-lose-it provision: FSA funds not spent the year they are set aside or during a grace period, if any, are forfeited. Unlike FSAs, HSA and MSA funds roll over from year to year and build. However, the tax relief is similar.
Do you have an HSA, MSA, or FSA? HSAs, MSAs, and FSAs are usually provided as a benefit by your employer. Check with your human resources department to see if your company offers one and how you can enroll.
Itemized Medical Expense Deduction: If you dont have an HSA, MSA, or FSA, and youre a taxpayer who itemizes your deductions, you can potentially add your medical weight loss program costs to the costs of your other medical and dental expenses. However, within this category, you can only deduct medical and dental expenses that exceed 7.5% of your adjusted gross income and that are not reimbursed.
Deductible Medical Expenses: Whats Not Covered
Weight-loss related medical expenses that are not considered deductible include but may not be limited to:
- Weight loss program costs, where the purpose of the weight loss is not for the treatment of a specific disease diagnosed by a physician (such as obesity, hypertension, or heart disease).
- Expenses for gym, health club, or spa memberships.
- The cost of diet food or beverages (such food and beverages are considered a substitute for what is normally consumed to satisfy nutritional needs), with some exceptions.
To find out how to lose extra weight the healthy ways please visit http://www.101medicalweightloss.com.
About 101 Medical Weight Loss: For more than a decade, The Center for Medical Weight Loss has been helping people to shed unwanted pounds through physician-guided programs. The company is known throughout the San Fernando Valley area for uniquely meeting the needs of patients through personalized plans. 101 Medical Weight Loss operates on the belief that safe weight loss results from healthy food and lifestyle choices, but provides the option of a safe appetite suppressant prescription when necessary. To discover what The Center for Medical Weight Loss can do for you, visit 101MedicalWeightLoss.com
- ^ medical weight loss programs (www.101medicalweightloss.com)
- ^ 101 Medical Weight Loss (www.101medicalweightloss.com)
- ^ http://www.101medicalweightloss.com (www.101medicalweightloss.com)
- ^ 101MedicalWeightLoss.com (www.101medicalweightloss.com)
Natural Weight Loss Secrets REVEALED: How To Lose Weight Naturally (Paperback) tagged “weight loss tips” 95 times
Tue, 10 Aug 2010 00:29:04 GMT Natural Weight Loss Secrets REVEALED: How To Lose Weight Naturally (Paperback)By D K Evans Click for more info Customer Rating: Customer tags: natural weight loss(97), weight loss(96), weight loss tips(95), healthy living(6), natural remedies(5), how to lose weight(5), d k evans(3), diet reviews(3), terri bork http://www.amazon.com/Natural-Weight-Loss-Secrets-REVEALED/dp/1453630325/ref=tag_rso_rs_edpp_url?ie=UTF8&creative=381421&tag=thedays-20
Weight Off (Kindle Edition) tagged “weight loss tips” 74 times
Mon, 21 Nov 2011 03:56:20 GMT Weight Off (Kindle Edition)By Linda Corby Buy new: $1.99 Customer Rating: Customer tags: weight control(124), weight(123), fat loss(121), fat free(118), obesity loss(117), weight loss(116), weight loss help(116), healthy weight loss(115), my weight loss(113), how i lost weight(113), weight loss tips(74), weight management(72) http://www.amazon.com/Weight-Off-ebook/dp/B004FV540G/ref=tag_rso_rs_edpp_url?ie=UTF8&creative=381421&tag=thedays-20
A Gluten Free Diet is Not a Weight Loss Diet – Gladly Gluten Free
Does going gluten free promote weight loss? It ultimately comes down to calories in, calories out. http://www.chicagonow.com/gladly-gluten-free/2013/07/a-gluten-free-diet-is-not-a-weight-loss-diet/
Our Top 30 Weight Loss Tips – MotleyHealth
Like any successful project you need to be organized and prepared to ensure that the program succeeds and you fulfil your weight loss and fitness goals. So. http://www.motleyhealth.com/weight-loss/four-steps-to-a-healthy-weight