Weight loss surgery has so many health benefits for our patients, but what you may not realize is that there are pronounced tax benefits for patients who self-pay for their bariatric surgery. At St. Louis Bariatrics, we believe that it is important that you feel well-informed about every aspect of our weight loss treatment plan, and this includes the financial aspects. Here is some information about how paying for weight loss surgery yourself may impact your taxes.

Weight Loss Surgery May Be Tax-Deductible

Patients who itemize deductions on their tax returns may be able to deduct the cost of weight loss surgery and other medical expenses. In order to qualify for deductions, medical expenses must be in excess of 7.5% of the patient’s adjusted gross income.

Medical Expense Tax Credits

For patients who do not meet the income requirements for medical expense tax deductions, it may be possible to secure a medical expense tax credit. This can help reduce the taxes they owe or increase their tax refund.

Paying for Bariatric Surgery with Medical Spending Accounts

Medical spending accounts like an FSA (flexible spending account) or HSA (health savings account) are tax-advantaged. This means that money contributed to these employer-sponsored accounts is not taxed, allowing patients to use pre-tax dollars to pay for weight loss surgery.

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We hope that this information is a helpful starting point as you consider paying out-of-pocket for weight loss surgery. However, it is important to note that the IRS has specific rules and requirements for claiming tax deductions and using tax-advantaged accounts for medical expenses. You should consult with a tax professional or financial advisor to determine your eligibility and to ensure that you are complying with all IRS regulations.

If you have questions about paying for bariatric surgery, please contact the team at St. Louis Bariatrics.