HSA Keeps You Going!

Did you know that you can use these accounts for …Therapeutic Massage , Natural Healing and Hydrotherapy?

The federal tax code states that a qualified expense “must be to alleviate or prevent a physical or mental defect or illness.”
Now is the time to get a flexible spending account (FSA), health savings account (HSA), or medical savings account (MSA) and use it to stay healthy!
For Natural Healing, Therapeutic Massage or Aqua-Chi (hydrotherapy) to  be covered, there are a few steps you’ll need to take:

1. Get a prescription for manual therapies and/or hydrotherapy from you doctor. A prescription is needed for these  to count as a qualified medical expense. Talk to your medical practitioner (any healthcare provider who can write a prescription).  The prescription makes it medically necessary and should be covered.
2. Make sure the prescription contains the proper information. The prescription should contain three pieces of information:  A) Length of treatment,  B) duration, C) reason for prescribing therapies.  An example may look like this: Monthly 90-minute therapeutic massage to treat chronic pain in upper back. Or Hydrotherapy for diabetic neuropathy, swelling/edema, etc.
3. Schedule your appointment. You won’t need to bring your prescription with you.
4. Get a “medical receipt” for your session. When you check in, let us know that you’ll need the receipt to submit. We’ll give you a receipt that has the documentation you need (such as insurance classification code and description of the therapeutic service). We can either print the receipt or e-mail it to you. And remember that even though an expense is approved, you could still get audited by the IRS. So keep your written prescription and your FSA debit or credit card statement.

If you don’t have an FSA or an HSA and are wondering what they are, here are some broad definitions:
A flexible spending account (FSA) is a tax-advantaged financial account that allows an employee to set aside a portion of his or her earnings to pay for qualified expenses, most commonly for medical expenses, and is offered through an employer’s cafeteria plan. Money deducted from an employee’s pay into an FSA is not subject to payroll taxes, resulting in a substantial payroll tax savings. The medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA), but medical FSAs are commonly offered with more traditional health plans. With most FSA, you must use up your funds each year.

An HSA is a tax-advantaged medical savings account available to people who are enrolled in a high deductible health plan. The funds contributed to the account are not subject to federal income tax at the time of deposit. HSAs are owned by the individual, and funds may be used to pay for qualified medical expenses at any time without federal tax liability. Unlike an FSA, funds roll over to the next year if not spent.If you don’t have one of these accounts, look into them now and reap the benefits!Health Savings of America US Govt GSA info