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Congressman Cannon Introduces Bill to Make Supplements Deductible

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By: Sean Moloughney

Editor, Nutraceuticals World

On April 25th, Congressman Chris Cannon (R-UT) announced the introduction of a bill called the Dietary Supplement and Healthy Meal Replacement Tax Parity Act (HR 1545). The bill would allow the Internal Revenue Service (IRS) to consider certain meal replacement products
and dietary supplements as deductible expenses under the Health Savings Accounts (HSA). Dietary supplements eligible for the deduction include those that qualify for a health claim permitted by FDA. Meal replacement products, in order to qualify for the deduction, must also have a health claim permitted by FDA, be low in fat, and must represent a good source of protein, fiber, and multiple essential vitamins and minerals. “This bill won’t solve all of our nation’s health problems, but study after study has shown that dietary supplements and low-fat meal replacements promote a healthy lifestyle and decrease obesity. It just makes sense that they should be included under HSAs,” Representative Cannon said.

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