Everyone knows the old adage that declares "an ounce of prevention is worth a pound of cure." This time-honored wisdom certainly makes sense. We wouldn't wait until we were riding on the wheel rim ...View Article
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Health Savings & Flexible Spending Accounts
Your care at Chiropractor Plus can be charges to your Health Savings and Flexible Spending Accounts!
FLEXIBLE SPENDING ACCOUNTS
What is a Flexible Spending Account (FSA)?
Flexible Spending Accounts, known as FSAs for short, allow employees to put some of their earnings into a special account to pay for out of pocket healthcare expenses. As long as the expenses are allowable, the employee is not taxed on this money.
Under the "Use It or Lose It" rule, funds must be used by the end of the calendar year. Your plan may have an option to rollover up to $500 of unused funds to the next calendar year or a grace period option that gives you an extra 2-1/2 month extension after January to spend remaining FSA funds, Check with your HR manager to find out the specifics of your plan.
Are expenses for services at Chiropractor Plus allowable under a FSA?
Yes, if you have a "standard" FSA and not a "limited purpose" FSA. A limited purpose FSA covers only vision and dental expenses. You can include fees you pay for yourself, your spouse, and your dependents. For additional information, visit IRS.gov.
HEALTH SAVINGS ACCOUNTS
Health Savings Accounts, known as HSAs for short, allow individuals who are enrolled in a high-deductible health plan (HDHP) to put some of their earnings into a special account to pay for out of pocket healthcare expenses. As long as these are qualifed expenses, you are not taxed on this money.
Are expenses for services at Chriopractor Plus allowable under a HSA?
Yes, they are..Chiropractic care, acupuncture, and therapies offered at our office are all qualified expenses for an HSA account.