As the end of 2024 approaches we wanted to remind all of our patients that we do accept HSA/FSA as forms of payment. These accounts can be used to cover your chiropractic care visits, as well as any items you purchase at our office (yes, this also includes LMNT). Since we are not in network with insurance providers, HSA/FSA allows you to take advantage of your paid healthcare benefits.
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are powerful tools that help individuals manage and reduce healthcare costs. These accounts allow users to set aside pre-tax dollars for qualified medical expenses, offering tax savings and greater financial flexibility. While many people are familiar with using HSA and FSA funds for traditional medical services like traditional medicine doctor visits or prescription medications, there’s another often-overlooked benefit: using these funds for chiropractic care. This caveat also plays a greater role at our practice because we are out of network with all insurance providers.
1. Chiropractic Care Is a Qualified Medical Expense
Both HSAs and FSAs can be used to cover a variety of health-related services, and chiropractic care is one of the qualified expenses under IRS guidelines. This includes services such as chiropractic adjustments, physical therapy, and sometimes even diagnostic tests or therapeutic treatments that are deemed medically necessary.
For individuals suffering from chronic pain, musculoskeletal issues, or recovering from injuries, chiropractic care can provide effective, non-invasive treatments. You can use your HSA/FSA funds to cover these costs, making chiropractic visits more affordable.
2. Tax Savings on Healthcare Costs
One of the main benefits of HSA/FSA accounts is the ability to pay for medical expenses with pre-tax dollars. For HSAs, the contributions are tax-deductible, meaning the money you set aside in the account reduces your taxable income. For FSAs, the funds are deducted from your paycheck before taxes are applied, effectively lowering your taxable income throughout the year.
By using HSA/FSA funds for chiropractic services, you maximize these tax savings. It’s like getting a discount on your chiropractic care—whether you’re paying for regular adjustments or specialized treatments. For those with chronic pain or long-term treatment plans, these tax savings can add up over time.
3. Proactive Health and Wellness Benefits
Chiropractic care isn’t just about pain relief—it’s also a valuable tool for maintaining overall health and wellness. Regular chiropractic adjustments can help improve spinal health, boost circulation, enhance mobility, and support the body’s natural ability to heal. For people with active lifestyles or those looking to prevent future injuries, chiropractic care can be an essential part of a preventive healthcare regimen.
By using HSA/FSA funds to cover these wellness treatments, you’re not only addressing immediate medical needs but also investing in long-term health. This proactive approach can help you avoid more costly treatments down the road, potentially saving you money in the future.
4. No Need to "Use It or Lose It" with HSA
Unlike FSAs, which often have a “use it or lose it” policy (meaning any unused funds are forfeited at the end of the plan year), HSAs allow funds to roll over from year to year. This makes them an excellent long-term investment in your health. Even if you don’t need chiropractic care this year, you can save those funds for future treatments, giving you more financial flexibility.
For individuals who want to use their HSA or FSA funds for chiropractic care but aren’t sure if they’ll need multiple visits, this rollover feature provides peace of mind. You don’t have to rush into unnecessary treatments just to avoid losing money. You can plan your chiropractic visits at your convenience, knowing your funds will be there when you need them.
Conclusion
Incorporating chiropractic care into your healthcare routine is an excellent way to address pain, improve your mobility, and maintain overall wellness. By using your HSA or FSA to pay for chiropractic services, you can reduce your out-of-pocket expenses, save on taxes, and enjoy the convenience of using pre-tax dollars for qualified treatments.
Whether you’re dealing with a specific injury or simply seeking a more holistic approach to health, chiropractic care is a valuable investment that fits seamlessly with HSA and FSA benefits. So, if you’re not already utilizing your HSA/FSA funds for chiropractic treatments, now might be the perfect time to start. Your health and your wallet will thank you.
Dr. Gavin Grimaldi, DC
Chiropractic Physician/Owner
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