With open enrollment just around the corner, many people are thinking about their health insurance options. We won’t sugar coat it – there’s a lot to consider when picking out an insurance plan for you and your family. A common question we receive is about coverage on different insurance plans, specifically when it comes to paying for your care with a Health Savings Account (HSA) or Flexible Spending Account (FSA).
There’s often some confusion around claiming a massage as a medical expense. Can something that feels so relaxing actually be considered part of your health care coverage? In many cases, it absolutely can.
There are countless benefits of massage therapy. Massages can improve circulation, decrease pain and inflammation, reduce stress, as well as provide numerous benefits to your heart. Let’s take a leap into the world of healthcare to explain how you can pay for massage therapy through your health insurance plan with pre-tax dollars.
Before we discuss the process of getting a massage with your insurance plan, let’s do a quick overview on HSAs and FSAs. These are both special healthcare arrangements that allow you to set aside money for medical costs, such as deductibles, monthly prescriptions, copayments, and coinsurance. You don’t pay taxes on this money.
For a detailed list of what costs are considered “medical expenses,” start with this fact sheet from the IRS. In some cases, your employer will contribute money to your HSA or FSA each year as well. Both of these plans have a lot of fine print you’ll need to consider, so talk to your HR department if you have questions.
These healthcare plans usually come with a debit card that includes your (and your employer’s) contributions. In most cases, you won’t have to worry about being reimbursed, as your funds will already be on the flex debit card. You can spend this on any of the above medical costs.
There are a wide variety of benefits to these health accounts. First, HSAs and FSAs help you automate your savings for medical expenses. People rarely expect a medical emergency to happen, so these plans help you prepare without having to think about it.
And then there are the tax benefits. For both HSA and FSA, any contributions you make are pre-tax, so you end up saving a lot of money in the long run.
HSAs also roll over, meaning you can take any savings you’ve made for the year and apply them to the next year. FSAs, on the other hand, do not roll over. The set amount you put aside will go away if it’s not spent before December 31.
There are a few differences between FSA and HSA overall, but as it pertains to paying for a massage, they work the same.
In many cases, a massage will be covered by your insurance plan, whether you use an HSA or FSA. Follow these steps to make sure you’re qualified.
So how much can you save on a massage with an FSA? Using an FSA for massage therapy can save you 30-40% a year on out-of-pocket expenses.
Things to keep in mind
When requesting a massage therapy prescription from a doctor, make sure you’re coming at it with the right intentions. The purpose of your health insurance is to cover medical expenses, and massage therapy can be a great way to benefit your wellness and healing. Be honest when speaking with your doctor regarding your symptoms.
In the same way, make sure you only use your HSA or FSA cards for massage therapy expenses if you have a prescription from your doctor. It’s also important that you keep track of your records for tax season.
Getting the most from your insurance
When it comes down to it, your insurance is there to keep you healthy. A massage can be a good remedy for many types of injuries and conditions. Take these steps to pay for medical massage with your FSA or HSA plan.