There are many people who use Flexible Spending Accounts (FSAs) and Health Saving Accounts (HSAs) for various reasons. Here at Maximized Health Chiropractic we are happy to work with those who have such accounts. Our services qualify for reimbursement for both FSA and HSA accounts. We welcome you to contact us to learn more… better yet, you can use the “Let’s Chat?” button on this page to instant message us directly.
If you are wondering what FSA and HSA accounts are, we will explain what they are and how they are used.
WHAT THEY ARE
Both work like a personal savings account there is a failsafe on it though. With a saving account you can move money over and withdrawal whenever you would like. With these accounts, they can only go toward qualifying medical expenses. This means that if you have the tendency to reach your hand into your savings account and use the holds, you will not be able to with this. Additionally, the money that goes into this account is pre-tax dollars, lowering your taxable income.
HOW THEY WORK
In order to get an HSA or FSA account, your employer has to offer it; although they aren’t required to. As an employer you also aren’t required to contribute to it either. Both the employee and the employer can contribute to the employee account but only the employee is required to. Your employer will withhold a specific amount of funds from the employee’s gross wage each pay period.
BENEFITS TO THESE ACCOUNTS
These types of accounts let those who are employees and self-employed take a larger paycheck home simply by reducing their taxable income. The money that is put into these accounts from their paycheck pay period can be used throughout the year on qualified medical, dental, and vision expenses. They can even be used on qualified dependent care expenses. That means you’re able to use these funds on you as the account holder, your spouse, and any dependent to pay for copays, qualifying prescriptions, and even certain medical equipment.
We are happy to work with individuals who have such accounts.
Contact us to find out for sure if that applies to you.
Get Help, Ask Us Questions?
Of course you can always call or email us, but the best way to get in touch with us quickly is by using the “Let’s Chat?” button on this page to instant message a member of our team directly. We would be happy to assist you.