Wednesday, August 17, 2011

Breastfeeding Insurance Reimbursement & Tax Benefits

Exciting News for Breastfeeding Mamas!

Via Medela

Thanks to Medela for sharing this great information.  There's always such an overwhelming amount of information out there in regards to health insurance and tax credits that it's very much appreciated when someone broadcasts all the pertinent information and related links so that you don't have to scour the internet for more indormation.

Well Medela has compiled all the information you need to find out if you can benefit from any of the tax benefits for qualifying breastpumps and supplies.

Medela connected with the IRS to learn more, and here is what you should know:
  • The IRS guidance is broadly interpreted and covers any supplies that “assist lactation.”
  • FSA/HSA benefits providers may differ slightly in what they may cover. For example, some may define a breastpump as an allowable expense, but not other supplies. 
  • It is important for you to contact your employer’s benefits provider to determine what is covered under your specific FSA/HSA and the steps needed for reimbursement.
  • If you do not have a FSA/HSA account, you may be able to deduct breastfeeding costs if your total unreimbursed medical expenses exceed 7.5 percent of your adjusted gross income, and if you itemize your tax returns. 
FSA/HSA plans are one of two ways you can explore reimbursement for your breastpump.  Private insurance may also offer coverage.

For more details, please visit this page from Medela.


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