Tax Relief: Use HSA/FSA Funds for Pet and Service Animal Veterinary Care.
This law allows citizens to use funds from Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) to cover veterinary care and pet insurance costs. This change provides a financial benefit by allowing these expenses to be paid with pre-tax dollars, reducing overall taxable income and making pet care more accessible. Full costs for service animals are covered, while household pets have specific annual limits.
Key points
Veterinary care and pet insurance costs for service animals are fully eligible as medical expenses that can be paid using HSA or FSA funds.
For household pets, taxpayers can use up to $1,000 annually for veterinary care and up to $1,000 annually for pet health insurance, utilizing pre-tax savings.
The $1,000 annual limits for household pets will be automatically adjusted for inflation starting after 2025.
Status:
Introduced
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