The IRS recently issued a news release (IR-2024-65) warning that only qualified medical expenses are eligible for deductions or reimbursements from tax-advantaged accounts or arrangements. Personal expenses for “general health and wellness” aren’t. The news release specifically addresses health Flexible Spending Accounts, Health Savings Accounts, Health Reimbursement Arrangements and Medical Savings Accounts. The tax agency is concerned about “aggressive marketing” from companies claiming that a doctor’s note can “convert” purchases of nonmedical food, wellness or exercise products or services to tax-qualified medical expenses. This generally isn’t the case. Contact us for more information.