Tax Relief for Veterinary Care and Pet Insurance via Health Savings Accounts.
This law allows citizens to use funds from Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) to pay for certain pet and service animal medical expenses. This change means these costs can be covered using pre-tax dollars, offering financial relief to pet owners. Service animal expenses are fully covered, while expenses for regular pets have specific annual limits.
Key points
Allows the use of pre-tax HSA/FSA funds for veterinary care and pet health insurance, resulting in tax savings.
All veterinary and insurance costs for service animals are fully eligible without dollar limits.
For regular pets, there is an annual limit of $1,000 for veterinary care and $1,000 for pet insurance, subject to inflation adjustments.
Expired
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