FSA/ Flexable Saving Account & HSA/ Health Saving Plans

FSA/ Flexable Saving Account & HSA/ Health Saving Plans

Do you have an FSA Account?

In these difficult financial times, when stress levels are high and every dollar counts, massage is more necessary than ever. I am frequently asked if we can bill insurance for the services we provide. Many people don’t understand why it is not covered in most instances, considering other treatments like acupuncture and chiropractic often are. My best answer is to suggest they look into flexible spending accounts, or FSA’s, as a reasonable alternative.

The primary advantage of a FSA is that the money goes in before payroll taxes, which means roughly 30% more value on every dollar.

Here’s how this works.

First, you need to sign up for a flexible spending account. Your employer will pull money from your paycheck before they take out income taxes. You decide how much to deduct each year for health care expenses that insurance doesn’t cover, keeping in mind that if you don’t use the money within a year or so, you lose it.

Finally, make your massage appointment. You will need to pay upfront and then submit receipts for reimbursement.