Health Savings Accounts (HSAs) can be a great way to save on medical expenses.
Americans commonly use these accounts to cover items like hearing aids, prescription medications, or doctors visits. But did you know that you can also make smart use of your HSA while at the dentist?
Keep reading for more information on HSAs, FSAs, and how to use them for your oral health needs.
How is an HSA Different From an FSA?
Many people run into confusion when differentiating between HSAs and FSAs. FSA stands for flexible spending account. Unlike an HSA, an FSA is not set up for long-term savings.
To access the money in your HSA, you need to follow rules that are similar to the rules for a Roth IRA. Regulations for FSA spending are less strict, but the main difference is that if you don’t spend the money in your FSA by the end of the fiscal year, you lose the money.
Can I Use My HSA or FSA at the Dentist?
Most often, you can use your FSA or HSA at the dentist for expenses related to:
- Fluoride Treatments
- Teeth Cleaning
You cannot use your HSA or FSA to pay for:
- Non-Medically Necessary Cosmetic Surgery
- Teeth Whitening
If you have questions regarding what you can and cannot use your HSA or FSA to pay for, feel free to contact us.