We all know how confusing health insurance options can be, not to mention when abbreviations like HSA and FSA get tossed around!
This will hopefully simplify some things and help clarify what exactly HSA and FSA entail…
Health Savings Account (HSA)
An HSA is an account that is typically only available to employees who are enrolled in a High Deductible Health Plan (this is a health insurance plan where the patient has to pay a higher amount of expenses before the benefits kick in).
An HSA typically has a higher contribution limit and the funds are able to roll over year after year. Another pretty cool thing is that HSAs typically even offer investment options, so you have the potential to accrue more and grow the account over time!
We had a super cool situation earlier this year with a client who purchased an initial package of sessions using an HSA card - in just the time it took her to use those sessions at the clinic, her HSA investments actually made back the full amount allowing her to use the earnings for a second package!!
Flexible Spending Account (FSA)
A FSA is an account that is typically available to any employee at a company, but unfortunately self-employed individuals aren’t eligible.
FSAs have a lower contribution limit, they don’t have the investment option, and they don’t carry over year after year - so essentially, you either use it or lose it each year.
Benefits of HSA and FSA
Both types of accounts provide the benefit of being able to use tax-free money towards various health purchases - including all of our physical therapy, 3D Running Analysis, and strength & conditioning services at AWAKEN!
This is the best time of year to use these accounts, especially the FSA which won’t roll over into next year!
ACT FAST - our BIGGEST SALE OF THE YEAR runs now through November 30th, 2024! We are offering a 15% discount on all 3D Running Analysis Sessions/New Patient Evaluations as well as awesome discounts on our 6-Session/12-Session Packages!
The sessions have to be purchased this month, but they can be used ANYTIME within a year of the purchase date!
So make sure to use those funds—before they expire— on our expert services designed to help you get out of pain, stay out of pain, and AWAKEN your everyday/athletic potential!!!
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