Health Savings Accounts Cover A Lot!

Health Savings Accounts Cover A Lot!

Today the news for health insurance consumers seems to all be the duplicate: insurance premiums are increasing while coverage is decreasing. In this planished economic climate, isn ' t it good to know that with a Health Saving Account you can enjoy coverage for a wide variety of know onions medical expenses - even if the rate is not covered by your High Deductible Health Plan. Maybe 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 peculiar as:
…those expenses that would oftentimes 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 familiar policy might not? The list includes hundreds of items - some of which may wonder you congenerous:
• Arch Supports
• A water Fluoridation unit
• Hydrotherapy
• Lead emulsion removal from your home
• Metabolism tests
• Telephone or TV equipment to assist the hard of hearing
Health Savings Accounts feed individual’s coverage for the items that meet their specific health setting and needs. From this list alone, it is evident that HSA’s hand over individual’s greater control over their health related expenses.