Tax Credits and/or Insurance Benefits for Hypnosis

Consult your tax accountant and health insurance company to determine what deductions and/or benefits you are entitled to.  We cannot give tax or health insurance advice and provide the following only as information.  

TAX CREDITS

Tax laws from 2003 on allow a tax credit that reimburses 100% of the money you pay for Smoking Cessation programs.  If you are advised by a physician to lose weight, you may also be reimbursed 100% for Weight Loss hypnosis.

This is a tax credit – not a tax deduction, so that means 100% credit on your taxes! It’s almost as if your smoking cessation and weight loss hypnosis programs were free!

The information below is derived from pages 12 and 15 of IRS Publication 502 year 2003.  (Disclaimer:  As the tax laws change yearly, consult with your tax accountant as to current credits.)

Stop-Smoking Programs:  When filing income tax you can include in medical expenses amounts you pay for a program to stop smoking.  However, you cannot include in medical expenses amounts you pay for drugs that do not require a prescription, such as nicotine gum or patches that are designed to help stop smoking.

Weight-Management Programs:  You can include in medical expenses amounts you pay to shed weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, diabetes or heart disease).  This includes fees you pay for membership in a weight reduction group and attendance at periodic meetings.  You cannot include membership dues in a gym, health club, or spa as medical expenses, but you can include separate fees charged there for weight loss activities.

HEALTH INSURANCE

Many insurance companies do provide insurance coverage for issues such as anxiety, smoking cessation, and weight loss with a medical doctor’s referral.  Many Health Insurance Savings Plans allow you to use pre-tax HSA dollars for Smoking Cessation and some other areas of use. Check with your healthcare provider.  Oftentimes, if you tell them why you are coming for hypnosis, you can get your sessions pre-approved for HSA Tax dollar use. 

Trident Therapy Clinic does not bill insurance or accept assignment as each insurance company has different policies about hypnosis and the terms under which it is covered are constantly changing from year to year.  We will provide you with a receipt for services, which you may submit directly to your insurance company.  Request that any payment be sent directly to you for reimbursement of covered claims.
Very often a change of self is needed, more than a change of scene. 

YOU MAY RECEIVE AN IRS
TAX CREDIT 
FOR SMOKING CESSATION AND WEIGHT MANAGEMENT!

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