FSA vs. HSA: What you need to know about your benefits
We encourage you to take full advantage of any benefits you may have for your orthodontic treatment at VCO Orthodontics in Arlington, VA! Here are a few helpful tips to keep in mind when setting up your Flexible Spending or Health Savings accounts:
1. Using your HSA/FSA for orthodontic treatment:
Essentially, if your employer offers an FSA or HSA benefit, you can take advantage of it for orthodontic treatment by contributing funds from your paycheck prior to being taxed, which is a great way to possibly save a few hundred dollars on your out of pocket expenses! FSA funds can be used for retainers, Invisalign, braces, expander, spacers for kids, or tooth whitening/bleaching.
2. Who to speak with regarding your account:
You can speak with your HR department to find out what type of account you qualify for and what their specifications are regarding maximum amounts, what’s tax deductible, as well as if the account has a rollover amount or resets each year. You may also want to ask what the yearly maximum contribution you can make to the account is, since most have limitations set in place.
3. How to make payments from your account:
Some employers will issue a physical card that you can swipe at your appointment for payments, or they may put in place a reimbursement system in which you pay VCO Orthodontics directly and we give you an itemized receipt to submit to your provider. Your provider will then pay you back.
Many of our braces and Invisalign patients take advantage of FSA and HSA funds so use those funds before you loose them at the end of the year! Maybe some custom whitening trays for a sparkly New Year’s Smile? We couldn't agree more. 😊