"The Smart Way to Pay for Healthcare: Understanding FSAs"

Karla Andrade
Jun 20, 2024
2 min read

Updated: Jul 22, 2024

A Flexible Spending Account (FSA) is an account specifically for certain out-of-pocket medical expenses. This account is only for health care costs and isn’t taxed. To get an FSA, a claim must be submitted to the FSA through one’s employer with proof of the medical expenses that still must be paid off. An employer may contribute to the employee’s FSA, but it isn’t required for them to.

This is a great option if you have medical expenses that will take a while to pay off. With an FSA, that money will not be taxed, allowing for you to save. Employers are also allowed to contribute, which can help with coverage. An FSA covers a wide variety of medical and dental services and necessities, but not all, which makes it essential to verify what is covered based on your needs.

There are certain limitations to an FSA, some being:

A limit of $3,200 per year per employer.
Can’t be used for all medical and dental expenses.
Can only be used for a spouse's expenses if married.
Can’t be used for insurance premiums.

Examples of how patients can use an FSA to cover Verus Wellness services:

When you need a consultation with a Registered Dietitian (RD) based on a referral from your doctor, we can provide a superbill for you to submit to your Flexible Spending Account (FSA) for reimbursement. An FSA is particularly beneficial for those with insurance plans that do not cover nutrition counseling services. If your insurance is not accepted, the funds in your FSA can be used to cover the cost of our services.

2. Our weight loss programs, which include personal training and nutritional services, qualify for FSA eligibility. This means you can use the funds in your FSA account to cover the cost of these programs. Flexible Spending Account (FSA) funds are a valuable resource to ensure you receive the care you need. By utilizing FSA funds, you can access a variety of health services that might not be covered by your standard insurance. FSAs provide a convenient way to budget for and manage your healthcare expenses, ensuring you can afford the comprehensive care necessary for your well- being.

FSAs can cover a wide range of healthcare expenses, including:

Medical equipment (crutches, blood sugar test kits, etc.).
Your expenses, your spouse’s, and your dependents.
Deductibles and copayments.
Acupuncture.
Birth control pills (if prescribed).
Nutritional supplements if recommended by a medical practitioner for a diagnosed condition.
Weight-loss program if needed for a disease diagnosed by a physician.