Why You Should Use Your HSA or FSA For Orthodontic Treatment

Why You Should Use Your HSA or FSA For Orthodontic Treatment

Don’t Miss Out on Big Savings in 2023

December is here! And with 2024 fast approaching, it’s a great time to double check opportunities for year-end savings. If you have a Health Savings Account (HSA) or Flexible Spending Account (FSA) and are looking for ways to make medical treatments more affordable, keep reading. 

 

Truman Orthodontics Henderson believes that everyone should have a great smile. It’s why our practice offers a variety of payment options to make TruSmiles more accessible. It’s also why once the calendar page turns to December, your orthodontist sends out year-end HSA and FSA reminders. Understanding how these accounts benefit individual and family financial planning is a game changer. 

 

So, first things first:

What are HSAs & FSAs?

 

HSAs and FSAs are savings accounts that allow you to put aside funds for certain expenses – namely medical. Those with a high-deductible health plan have the option to open a HSA while FSAs are offered by one’s employer. Because orthodontic care is a vital component of oral health, certain treatments are often HSA or FSA eligible. 

Straight Smiles Linked to Good Health

 

The benefits of a straight smile go beyond aesthetics. Maintenance of those pearly white don’t just look great for pictures – it’s central to overall health. Simply put by the American Association of Orthodontists, “Teeth are like gears on a wheel. They are made to fit together in a certain way to do a certain job. If they don’t fit together, they can’t do their job, which may lead to various oral health problems.” 

Whether an existing or future patient, these accounts help provide financial relief for those needing braces or clear aligners. That financial relief packs a one-two punch. Not only are those contributions available to withdraw for a potentially large expense, both accounts allow one to save on a pre-tax basis. 

Spend Smarter

 

When it comes to large purchases, smart and strategic spending is the way to go. The tax benefits included with HSAs and FSAs offer potentially sizable savings in key ways:

• HSA contributions are tax deductible
• HSA and FSA funds grow tax-free
• HSA and FSA-eligible medical expenses are not taxed

 

After you double check your plan details (eligible expenses may vary), the next step is to give your orthodontist a ring. Not only will 2023 be one for the books in a couple weeks, the window of opportunity to take advantage of those tax-free savings (especially if you have a FSA) is coming to a close. 

Your End of Year Reminder

 

So, what’s the catch? While HSAs may allow one to carry funds forward, FSAs generally operate on a “use it or lose it” policy. This means any money unused is forfeited at year’s end. This ticking clock makes the last days of December crucial in order to maximize those savings. 

 

Existing patients are always welcome to contact Truman Orthodontics Henderson with questions about financing. The TruCrew is happy to help review payment options and ensure that you’re getting the most out of your HSA and FSA benefits. For new patients, now is the time to embark on your orthodontic journey. 

 

Don’t let those benefits go to waste! Make the call, set the appointment, and sit in Dr. Truman’s chair before toasting the New Year. 

 

About Truman Orthodontics – Henderson

 

Truman Orthodontics-Henderson provides the highest quality orthodontic care in a family-oriented high-technology practice. Combining the right mix of personal care, high technology, and continuing education, we maintain a commitment to our patients in every facet of our practice to ensure that every patient achieves a healthy and beautiful smile. For more information, visit www.trumanortho.com.

Posted By Truman Office Category: Blog Post Date: December 7, 2023