Health Savings Account Blog

Dietary supplements eligible as an HSA qualified expense include those that qualify for a FDA-permitted health claim. Meal replacement products, in order to qualify for the deduction, must also have an FDA-approved health claim, be low in fat, and must represent a good source of protein, fiber, and multiple essential vitamins and minerals. Under the bill, tax-deductible dietary supplements could include antioxidant vitamins, calcium, folic acid, omega-3 fatty acids, and soy protein.

“Unfortunately, when talking about our health, we often focus on treatment rather than preventative measures,” Cannon stated in a press release. “Doing everything we can to encourage individuals to eat right and to exercise will lead to a healthier population which in turn leads to less expensive healthcare for all of us.”

We at HSA for America applaud Congressman Cannon for taking the reigns of a bill that will contribute to the health of every American. Cannon personally uses dietary supplements and has remained an outspoken supporter of conducting research and education on nutritional products. In addition to introducing the bill, he recently announced the creation of a bipartisan caucus on dietary supplements, which he will co-chair with Congressman Frank Pallone (D-NJ).

Please contact your congressional representatives and tell them you wholeheartedly support the Healthy Meal Replacement Tax Parity Act (H.R. 1545). By doing so, you help to transform America’s health care system from one that reactively treats disease to one that proactively fosters good health.