This isn't a question... I just wanted to get the good news out!
WASHINGTON—The cost of breast pumps will now be considered tax-deductible medical expenses under a ruling issued by the Internal Revenue Service Thursday.
The ruling, long sought by advocates, means that women will be able to use money set aside in pretax spending accounts to buy the pumps and related equipment, which can cost several hundred dollars. For women without flexible spending accounts, the cost of pumps will be tax deductible if their total medical costs exceed 7.5 percent of adjusted gross income.
**** The IRS, in a statement, said the agency changed course after concluding breast pumps were equivalent to obstetric care and affected a woman's body. The rule takes effect for 2010 tax filings, due April 18.***
It is an IRS ruling so it would be on your Federal Tax form (I'm not an accountant - so check w/ yours!!). The article didn't mention what would occur on a state by state basis. It covers 2010 expenses.
**** The IRS, in a statement, said the agency changed course after concluding breast pumps were equivalent to obstetric care and affected a woman's body. The rule takes effect for 2010 tax filings, due April 18 *****
As of yet there is very little information out on this, just what's above, so I would keep googling every so often to see if updates have been published.
I wonder if it is in MO too? I do also know that some health insurance companies will cover some expense of breast pumps. Im going to see if mine will.
Also, many insurance companies cover them as a "medical device", so call and ask if your insurance company will buy you one or pay for a rental!
do you have to have a prescription from your doctor to get one? I was told that now with my FSA, that I have to get a prescription from my dr. to be able to use that money towards all of my OTC drugs (like advil, tylenol, etc...) and even if I want to buy a humidfier or a thermometer I have to get my Dr. to write me a prescription for it..... FRUSTRATION!!!
wonderful!! abut damn time!
Is that national and is it retroactive to last summer or any idea WHEN it goes into effect?
