Can Reiki Sessions Be Covered by Your HSA or FSA?
What are HSA’s and FSA’s?
Health Savings Accounts (HSAs) are tax-advantaged savings accounts that allow individuals with high-deductible health plans (HDHPs) to save money for qualified medical expenses. Contributions to HSAs are tax-deductible, and the funds can be used tax-free for eligible health costs, including dental, vision, and some medical expenses. HSAs can roll over from year to year, meaning unused funds are not lost.
Flexible Spending Accounts (FSAs) are employer-established benefit plans that allow employees to set aside pre-tax dollars to pay for eligible medical expenses not covered by insurance. Unlike HSAs, funds in an FSA must usually be used within the plan year, although some plans offer a grace period or allow a small amount to carry over to the next year. FSAs are convenient for anticipating healthcare costs and can lower taxable income.
Both accounts aim to help individuals manage healthcare expenses more effectively while providing tax advantages.
What kinds of alternative therapies can HSAs and FSAs cover?
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) can cover a variety of alternative therapies, depending on the specific guidelines of the provider and the individual plan. Here are some common types of alternative therapies that may be eligible:
Reiki Therapy: Beneficial as a complementary approach to traditional healing methods.
Acupuncture: Often used for pain management and various health conditions.
Chiropractic Services: Treatment by licensed chiropractors for musculoskeletal issues.
Massage Therapy: May be covered if deemed medically necessary; typically requires a prescription.
Naturopathy: Services provided by licensed naturopathic doctors.
Homeopathy: Treatments involving homeopathic remedies, if provided by a licensed practitioner.
Osteopathy: Services from osteopathic physicians focusing on a holistic approach.
Physical Therapy: Includes therapeutic exercise and rehabilitation services.
Mental Health Therapy: Some alternative practices like art therapy, music therapy, and other holistic approaches might be covered if conducted by licensed professionals.
It's important to check with your specific HSA or FSA plan to confirm coverage eligibility and any necessary documentation, such as a Letter of Medical Necessity from a healthcare provider. Understanding what types of treatment providers your HSAs and FSAs cover are a great way to financially plan for, and assemble, your healing and wellness team.
Flourishing Roots Wellness has been successful in processing payments for Intuitive Wellness Sessions with both HSA and FSA accounts. It is your responsibility to check with your provider if they will approve the expense. If you are currently experiencing financial limitations, please reach out to us via the contact page so we can work out a creative solution. No one should be denied access to care.
