It’s a little known fact that consumers can use flexible spending accounts (FSAs) to pay for chiropractic care. While many employees are aware of FSAs, not everyone is knowledgeable about what items are eligible.
FSAs, which are offered by 63 percent of employers today, are tax-advantaged benefit programs that allow employees to use pre-tax money to pay for eligible health care expenses not covered by medical insurance, such as copays, deductibles and prescription drug, dental, vision and chiropractic care costs.
Another tax-advantaged program that can be used to pay for chiropractic care is the health savings account (HSA). HSAs
are similar to FSAs except that any unspent money in an HSA rolls over and accumulates from year to year. Today, HSAs are offered by 56 percent of employers — an increase of 11 percent in the past five years.
As the end of the year approaches, many employees will find themselves scrambling to use up their remaining benefits balance, or risk forfeiting leftover FSA funds.
If you have an FSA account due to run out at the end of the year, and have been considering chiropractic care, call our office today at 425-778-9600 for an appointment.