Reminder: HSAs and FSAs Can Help Pay for Orthodontics
Get the most out of your health savings or flexible spending account
As the year winds down, it’s crucial to evaluate your finances, particularly the funds held within your Health Savings Account (HSA) or Flexible Spending Account (FSA). These accounts are valuable tools for managing out-of-pocket healthcare expenses, offering significant tax advantages. Yet, they also have restrictions, most notably the “use it or lose it” policy for FSAs. This stipulation means that unspent funds may be forfeited at the year’s end, though many FSAs offer a grace period extending into mid-March of the following year. This article explores how these accounts can be optimally utilized for orthodontic care, ensuring your investments contribute to both your health and financial wellbeing.
Understanding HSAs and FSAs
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) differ not only in structure but in application. HSAs are companion accounts to high-deductible health plans (HDHPs), allowing you to set aside pre-tax income for future medical expenses. Contributions roll over annually, offering continuous savings potential. FSAs, typically employer-sponsored, provide similar tax benefits but with annual forfeiture of unspent funds, save for a possible grace period or limited carryover options.
Orthodontics: A Smart Investment for Your HSA/FSA
Orthodontic treatment is often an investment. Utilizing an HSA or FSA can alleviate the financial burden by covering costs related to braces, Invisalign, retainers, and other necessary procedures. November is the perfect time to use the rest of your money to invest in a healthy smile.
At Adirondack Orthodontics, we can help you put those dollars to work. Here are a few spending options:
Clear Your Balance
Paying off outstanding balances reduces financial stress and frees both your mind and finances for the upcoming year. Any amount in your FSA or HSA can contribute to settling these balances, easing your financial commitments.
Enhance & Protect Your Smile
Once orthodontic treatment concludes, maintaining results is paramount. Investing in our Smile Protection Plan safeguards your orthodontic investment, providing you with the whitening kits and retainers you need to keep your smile white and bright.
Buy a New Invisalign Case
Whether your current Invisalign case is old and worn out or you simply want one that better reflects your style, you can use your FSA/HSA towards this purchase.
Act Quickly – Call Us Today!
Now is the perfect time to ensure you make the most of your FSA/HSA before you can no longer use it. The team at Adirondack Orthodontics can help you put your money to work, no matter your orthodontic goals. Contact us online if you’d like to schedule an appointment or utilize any of the above options. We look forward to helping you access the orthodontic services you need at a price you can afford!
