Just in time for end-of-the-year health savings account spending, 23andMe is offering a new standalone “Health Service” option for people looking to apply their HSA & FSA funds toward purchasing an at-home DNA test.Dec 1, 2021
Can HSA be used for DNA test?
You can now use your health savings account (HSA) for genetic testing. You may even be able to pay for a portion of 23andMe's Health + Ancestry Service.
Are lab tests FSA eligible?
Laboratory fees are expenses associated with laboratory test work for medical procedures and diagnostics. Lab fees for dental, vision, and preventive care are eligible for reimbursement with a consumer-directed healthcare account. Lab fees for other types of medical care are not eligible.
Can you use FSA for 23andMe?
The annual fee for the 23andMe+ Annual Membership is not covered by your FSA/HSA benefit. The annual fee may be an eligible expense in the future, though 23andMe cannot speculate as to if or when that change may occur.
Is DNA testing FSA eligible?
If you're considering purchasing a genetic testing kit, a new ruling by the IRS has stated that a portion of a genetic testing kit's cost is eligible for health savings account (HSA) or flexible spending account (FSA) reimbursements, as long as it is being used “for the diagnosis, cure, mitigation, treatment or Aug 7, 2019
Is 23andMe tax deductible?
That health portion of 23andMe's test is medical care for tax purposes, the IRS determined. 23andMe says the decision means consumers can claim up to $117.74 of the $199 cost of a health-and-ancestry kit as medical care for tax purposes and is offering a calculator to handle taxes, shipping and discounts.
Can I use HSA on 23andMe?
A 2019 ruling by the Internal Revenue Service* means that you should be able to use funds set aside in either a Flexible Spending Account (FSA) or Health Savings Account (HSA) to cover all or a portion of the medical care costs of the following 23andMe services: Health + Ancestry Service.
Is ancestry DNA HSA eligible?
In general, the Health Service or the Health component of the Health +plus Ancestry Service should be eligible as medical care covered by your FSA/HSA benefit.