Using your Flexible Spending Account (FSA) for Orthodontic treatments
A Flexible Spending Account (FSA) is a tax-advantaged account for use in paying for qualifying medical expenses. Many employers throughout the United States offer FSAs to employees, who use the pre-tax funds that they set aside to cover health-related expenses not covered by their medical or dental insurance programs. FSAs are exempt from federal taxes, Social Security (FICA) taxes and, in most cases, state income taxes.
“The FSA can be a great option for funding treatment or for bridging the gap between the final cost and what is covered by dental insurance”. “Paying through an FSA makes it possible to reduce out-of-pocket costs by nearly one third, because the money goes into the FSA account untaxed.” Our practice makes it very easy for patients to use this benefit.Posted on: December 1, 2016, by : Murali