Want better coverage for your acupuncture care?
There are a number of options available to you. You may qualify for a Health Savings Account or Flexible Spending Arrangement. A Health Savings Account (HSA) is an alternative to traditional health insurance which includes a High Deductible Health Plan (HDHP) and an individual Tax-Free Trust. Funds distributed from the HSA are not taxed if they are used to pay for qualified medical expenses. The trust account is designed to pay for medical expenses of your choice, including:
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Acupuncture
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Massage Therapy
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Fertility Enhancement
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Laboratory Fees
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Pregnancy Test Kits
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and more…
Money put into the account can be used either during the year or accumulated in the account to be used at a later date. You own and you control the money in your HSA. Decisions on how to spend the money are made by you without relying on a third party or a health insurer. For 2009, the contribution limit for an individual is $3000 per year and $5950 for a family.
A health Flexible Spending Arrangement (FSA) allows employees to be reimbursed for medical expenses of their choice. FSAs are usually funded through voluntary salary reduction agreements with your employer. You do not have to be covered under any other health care plan to participate. No employment or federal income taxes are deducted from your contribution and the employer may also contribute.
HSA insurance plans and FSAs encourage saving for future health care expenses, allow the consumer to be responsible for their own health care choices, and provide the freedom to chose the most beneficial medical modalities for the individual. Shouldn’t you be the one deciding how your money is spent on your own health?
For more information regarding HSA and FSA plans please visit:
http://www.opm.gov/insure/health/hsa/faq.asp#hsa969/ar0
http://www.irs.gov/publications/p969/ar02.html#en_US_publink100038864
