Health Savings Accounts Cover A Lot!

Health Savings Accounts Cover A Lot!

Today the news for health insurance consumers seems to all be the corresponding: insurance premiums are increasing while coverage is decreasing. In this lusty economic climate, isn ' t it good to know that with a Health Saving Account you can enjoy coverage for a wide variety of talented medical expenses - even if the amount is not covered by your High Deductible Health Plan. Perhaps the best example is that most health insurance does not cover the cost of over - the - counter medicines, but Health Savings Accounts can.
According to the IRS, “qualified medical expenses” are uncommon as:
…those expenses that would recurrently qualify for the medical and dental expenses deduction. However, even though non - prescription medicines ( other than insulin ) do not qualify for the medical and dental expenses deduction, they do qualify as expenses for HSA purposes.
What are some examples of things a Health Saving Account can cover that your casual policy might not? The list includes hundreds of items - some of which may doubt you near:
• Arch Supports
• A water Fluoridation unit
• Hydrotherapy
• Lead distemper removal from your home
• Metabolism tests
• Telephone or TV equipment to assist the hard of hearing
Health Savings Accounts implement individual’s coverage for the items that meet their specific health footing and needs. From this list alone, it is evident that HSA’s afford individual’s greater control over their health related expenses.