1. Medtech Insight
  2. >>Business

IRS Ruling On Deductibility Of 23andMe Genetic Test Will Increase Patient Access, Firm Says

 
• By Sue Darcey

A new ruling by the US Internal Revenue Service allowing purchases of 23andMe Inc.’s genetic health test kit with tax-deductible flexible spending and health savings accounts should increase access to the product, the firm said on 23 July.

Kiev, Ukraine - 17 October 2018: 23andMe personal genetic test saliva collection kit, with tube, box and instructions. Illustrative editorial. - Image
Purchase of the health care portions of 23andMe's genetic test kit are now tax deductible, according to the IRS

Patients who buy and use 23andMe’s kit – which is used, in part, by consumers to identify their genetic risk for certain diseases and to better manage their health – will be able to deduct the medical portion of the test kit, the Internal Revenue Service (IRS) said in a ruling released 22 July.

The deduction eligibility is applicable to the 2019 tax year, and years following, according to the IRS ruling.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Medtech Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

More from Medtech Insight

TRiCares Tricuspid Valve Replacement System Reduces Regurgitation In First-In-Human Study

 
• By Natasha Barrow

TRiCares presented data from the first-in-human study for its tricuspid valve replacement system – Topaz – at EuroPCR 2025 on 22 May.

Swiss Medtechs Advised To Work On US Tariff Mitigation Strategies

 
• By Ashley Yeo

The US’ 90-day suspension of higher “reciprocal tariffs” will expire on 9 July, raising fears that the 31% tariff rate on Swiss medtech and other goods exported to the US might make a comeback. While the tariff situation changes on an almost daily basis, medtechs should forearm for any eventually, say local business organizations.

Guardant Health Launches Germline Hereditary Cancer Test

 
• By Natasha Barrow

Guardant Health introduces a new germline panel test to help guide cancer treatment, assess the risk of secondary cancers in patients and identify family members at risk of cancer.