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Losing Weight: Healthier Wallet
Lose Weight - Get A Break The AOA and 10 other organizations (including Weight Watchers, Jenny Craig, several pharmaceutical companies, professional societies, and consumer advocate groups) petitioned the IRS last year to reverse the revenue ruling that includes weight loss among such other non-deductible categories as cosmetic surgery and health clubs, and until recently, smoking cessation programs. Weight Loss Programs Should Get The Same Break as Smoking Cessation Programs The AOA responded with an "exhaustive submission covering both of those bases," Downey says. "It almost gets to the point, why did we ask this question in the first place, it's so obvious, but of course, it isn't, there's still a lot of misunderstanding about obesity." The AOA wants the reversal to allow deductions for the costs of comprehensive obesity treatment, including surgery, pharmacology, behavioral counseling, and programs for the specific purpose of weight maintenance and loss. Downey says he's "optimistic" the IRS will rule in their favor based on the strength of the evidence in their 58-page submission to the agency. Obesity Is Considered A Chronic Disease Rosenbloom says obesity can lead to high blood pressure, increased risk for cardiovascular disease, type 2 diabetes, and possibly even certain types of cancers. According to the AOA, about 55% of U.S. adults are overweight or obese. The health care costs for treating diseases caused by obesity, such as diabetes and heartdisease, was over $100 billion in 1999 alone. Medicare And Medicaid Next? The IRS has to interpret obesity as a medical problem. Until it does, it is doubtful that tax relief will come. Even though medical deductions qualify after seven anda half percent of your adjusted gross income. If you were making $100,000 a year, you would have to have over $7,500 before you could deduct it. Most people don't. Downey agrees "it's a very small category, but in our view, particularly for people who need bariatric [obese-specific] surgery, which is going to be $8,000 to $12,000, or so and frequently is not covered by insurance plans, thatprobably is the individual who is going to benefit from this change. Most middle class people would have to go to a lot of Weight Watchers meetings to get up to that level." There has been a 40% increase in the number of obese people since 1980 and the incidence of obesity in children is rising. This is an issue that needs to be addressed. You may reprint or publish this article free of charge as long as the bylines are included. Original URL (The Web version of the article) About The Author
MORE RESOURCES: Weight loss journey: This 47 year old banker lost 14 kilos in just three months without stepping into the gym! The Times of India Could activating brown fat help promote weight loss? Medical News Today Wannabe TikTok influencer sold Ozempic, tainted weight loss drugs that left at least one dieter covered in gross lesions New York Post The Boom in New Weight Loss Drugs: What Prehospital Caregivers Need to Know JEMS (Journal of Emergency Medical Services) Taxpayers need to know how heavy a toll they'll be paying for weight-loss drug coverage Chicago Sun-Times Regeneron, Lilly grapple with clinical endpoints as obesity space moves to improving weight loss Fierce Biotech Common vitamin deficiencies in women; the effects on aging and weight loss | News Loma Linda University Weight Loss Competition Heats Up In Britain, Online Pharmacies Slash Prices for Wegovy and Mounjaro Yahoo Finance Woman develops lesions after TikToker sells her contaminated weight loss drug, feds say Miami Herald Melissa McCarthy's Thoughts on Weight Loss and Body Positivity Prevention Magazine Illinois expands costly weight-loss drug coverage Chicago Sun-Times Why Weight-Loss Drugs Wegovy, Zepbound Are in Short Supply The Business of Fashion Injectable weight loss drugs reshape diet industry York Dispatch Semaglutide vs. tirzepatide: Comparing weight loss drugs like Ozempic Houston Chronicle Considering Fat-Loss Supplements? New Military Study Finds Many Are Not What They Seem. Military.com Why a legal fight against the manufacturers of Ozempic, Mounjaro, and other diabetes and weight-loss drugs will take ... The Philadelphia Inquirer Food Network star Sandra Lee was 'sick as sick could be' after trying weight-loss medication Fox News So you've lost weight using Wegovy. Does that mean you can stop taking it? The Associated Press When supplies resume, should governments subsidise drugs like Ozempic for weight loss? We asked 5 experts The Conversation 217 Today: Weight-loss drug coverage for Illinois state workers could cost hundreds of millions of dollars IPM Newsroom Amgen shares jump after teasing 'encouraging' weight loss data SaltWire Halifax powered by The Chronicle Herald What making weight-loss drugs means for the environment Chemical & Engineering News Facing weight loss drug side effects? GNC wants to help Yahoo Finance Weight loss plateau on GLP-1 drugs vs surgery: When does it happen? Medical News Today The 80/10/10 diet: Is it effective for weight loss? The Indian Express Sister Wives: "Emerald Dream!": Meri's Best Green Outfits After Glam Weight Loss Transformation Screen Rant Eli Lilly Stock Jumps After Earnings Beat. Zepbound, Mounjaro Weight-Loss Drugs Are Driving Gains. Barron's Eli Lilly stock jumps on weight-loss drug sales forecast Yahoo Finance Ciara Teases Weight Loss Progress with New Photos After Revealing She's 'Trying to Lose 70 Lbs.' PEOPLE Novo Nordisk earnings are coming during a weight loss drugs sales surge. Here are 3 things to watch Quartz Intense exercise with time-restricted eating produces health benefits Medical News Today TikTok to crack down on content that promotes disordered eating and dangerous weight-loss habits Los Angeles Times Patients with MS Benefit from a Behavioral Weight-Loss Program - Multiple Sclerosis Peer-to-Peer Medpage Today Here's what 'fair allocation' for GLP-1s could look like Fierce healthcare Prosecutors: Shirley woman sold misbranded, adulterated weight loss drugs on TikTok News 12 Long Island 4 Reasons Weight Loss Drugs Aren't Working for You Verywell Health |
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