The Health Savings Account allows you to set up a tax-exempt account to cover medical expenses not covered by your health insurance. This includes the cost of paying deductibles, as well as other medical expenses such as dentistry and glasses. But many people are unaware that HSA funds can be used to pay for almost any type of medical service as long as it involves treating or preventing a particular health condition.
Because the money spent on health care accounts to pay for medical expenses is tax-free, anyone with an HSA can collect all alternative medical expenses and get tax write-offs through their HSA. This may include biofeedback, natural therapy, Ayurvedic medicine, aromatherapy, magnetic therapy, reflexology and more.
People who use complementary therapies are usually very healthy and don't go to traditional doctors often. Therefore, it makes no sense for them to pay high fees for co-payment of traditional medical insurance plans, especially when their medical treatment is not covered anyway. Instead, many people choose a low-cost, high-deductible HSA program.
Alternative therapy becomes mainstream
Many hospitals now offer supplemental treatment. The Memorial Sloan-Keating Cancer Center website states that complementary therapies are used to "help relieve stress, relieve pain and anxiety, control symptoms, and promote well-being".
Some group health insurance plans begin to cover more supplementary costs, but coverage of these costs in individual or family plans is still low. Those who cover chiropractic therapy limit coverage to 12-20 times a year, and a few will cover a limited amount of acupuncture. But there are very few cover hypnotherapy, aura, irisology or belief therapists.
Why supplement medicine
Most conventional drugs practiced by MD are called antagonistic therapies. The idea of the system is to use a reactionary approach to treat diseases and injuries. For example, if you have a fever, you can take aspirin to lower it. If your cholesterol is elevated, you can take it with a statin to reduce it. If you have heartburn, you may take an antacid. The main idea is to eliminate the symptoms of the disease. The main treatment methods are surgery and prescription drugs.
But there are other ways to look at things. Natural remedies are based on beliefs about the body's own healing abilities and can be enhanced by the use of certain foods, vitamins, herbs or other "natural" treatments. Traditional Chinese Medicine [TCM] is based on the theory of yin and yang balance in ancient China. Ayurvedic medicine is based on the principles of exercise, metabolism and structure.
Part of the increasing use of complementary therapies is the cost, side effects and philosophical response to traditional antitherapeutic therapies. Doctors have received a great deal of continuing education from the pharmaceutical industry, working in an environment where both insurance companies and patients are looking for a quick fix. As a result, an average of 60 years old is currently taking five conventional drugs, but few expect them to cure the health problems they are using. Many consumers see this and use other methods to try to find the root cause of their disease.
What is considered "HSA Eligible Fee"
Qualified medical expenses have been partially defined in IRS publication 502 through various federal court decisions. There is no definitive list, but as long as the program is used to treat or prevent a particular health condition, there are actually only a few limitations. For example, you cannot use your HSA funds to pay for a relaxing massage to meet your individual needs. However, if your doctor recommends that you receive a massage for a specific medical reason, this is considered a qualifying fee. Yoga is generally not considered a qualifying medical expense, but is recommended as a physical therapy after an accident.
Some people may question why the government will give someone some crazy energy vibration machines to treat their cancer tax cuts. But this is what it should be. No one, but you should be able to decide how you will treat your disease. By empowering individuals to manage their health as they see fit, the Health Savings Account encourages personal responsibility and helps to relax the monopoly of traditional medicine over the past few decades.
Orignal From: Use a health savings account to pay for alternative medicine
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