Using your Health Savings Account for Alternative Medicine

Health Savings Accounts allow you to set up a tax-deductible account to pay for medical expenses that are not covered by your health insurance. These include expenses to cover your deductible, and other medical expenses like dental and eyeglasses. But many don’t realize that HSA funds can be used to pay for virtually any type of medical service, as long as it pertains to the treatment or prevention of a specific health condition.

Because money withdrawn from a health savings account to pay medical expenses is tax-free, anyone who has an HSA can funnel all alternative medical expenses through their HSA and get a tax write-off. This could include biofeedback, naturopathy, Ayurvedic medicine, aromatherapy, magnetic healing, reflexology, and the list goes on.

People who use complementary therapies are often very health conscious, and go to traditional physicians less often. So it does not make sense for them to be paying a high premium for a traditional health insurance plan with a co-pay, particularly when their medical treatments are not covered anyway. Instead, many are choosing a low cost high-deductible HSA plan.

Alternative Therapies Becoming Mainstream

Many hospitals are now offering complementary treatments. The website for the Memorial Sloan-Keating Cancer Center states that complementary therapies are used to “help alleviate stress, reduce pain and anxiety, manage symptoms, and promote a feeling of well-being.”

Some group health insurance plans are beginning to cover more complementary expenses, but there is still very little coverage for these expenses in individual or family plans. Those that cover chiropractic limit coverage to 12 – 20 visits per year, and a few will cover a limited amount of acupuncture. But very few if any cover hypnotherapy, Reiki, iridology, or faith healers.

Why Complementary Medicine

The conventional medicine practiced by most MDs is called allopathic medicine. The philosophy of this system is to treat disease and injury using counteractive methods. For instance, if you have a fever you may take aspirin to make it go down, if your cholesterol is elevated you may take a statin to reduce it, if you have heartburn you may take an antacid. The thinking is mostly focused on removing the symptoms of disease, and the primary treatment modalities are surgery and prescription drugs.

But there are other ways to look at things. Naturopathic medicine is based on the belief in the body’s own healing powers, which can be strengthened through the use of certain foods, vitamins, herbs, or other “natural” treatments. Traditional Chinese Medicine (TCM) is based on ancient Chinese theories about the balance of yin and yang. Ayurvedic medicine is based on principles of movement, metabolism, and structure.

Part of the growing use of complementary therapies is a reaction to the costs, side effects, and philosophy of conventional allopathic medicine. Physicians get much of their continuing education from the pharmaceutical industry, and they work in an environment where the insurers and the patients are both looking for a quick fix. The result is that the average 60 year old is now taking 5 regular medications, yet there is little expectation that those drugs will ever cure the health problems for which they’re being used. Many consumers see this, and instead are using other methods to try to get to the root of their illness.

What is Considered a “Qualified HSA Expense”

Qualified medical expenses have been partially defined in IRS Publication 502, and through various federal court rulings. There is no definitive list, but there are really very few restrictions as long as the procedure is for the treatment or prevention of a specific health condition. For instance, you could not use your HSA funds to pay for a relaxing massage for your own personal pleasure. But if your doctor recommends you get a massage for specific medical reasons, this is considered a qualified expense. Yoga would not normally be considered a qualified medical expense, but it would be if it was recommended as a physical therapy following some sort of accident.

Some may question why the government would give a tax deduction for someone to use some crazy energy vibration machine to cure their cancer. But this is as it should be. No one but you should be able to decide what type of treatment you will use for your own illnesses. By empowering individuals to manage their health as they see fit, HSAs encourage personal responsibility and help loosen the monopoly on healthcare that conventional medicine has had for the past few decades.

Wiley Long

http://www.articlesbase.com/alternative-medicine-articles/using-your-health-savings-account-for-alternative-medicine-88415.html

35 Responses

  1. Valentine Beserra Says:

    I am typically to blogging and i really appreciate your content. The article has actually peaks my interest. I’m going to bookmark your website and preserve checking for brand spanking new information.

  2. sex Says:

    I have been browsing on-line more than three hours today, but I never discovered any interesting article like yours. It is pretty worth sufficient for me. In my opinion, if all site owners and bloggers made excellent content material as you did, the web will be much more helpful than ever before.

  3. Gilberto Grav Says:

    Hi there, just became alert to your weblog through Google,my site is

  4. Alexia Gearn Says:

    you are my intake , I have few web logs and infrequently run out from to brand : (.

  5. Ivey Aravjo Says:

    I’m really enjoying the design and layout of your site. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a designer to create your theme? Exceptional work!

  6. increase your verticaljump Says:

    I am not rattling excellent with English but I come up this very easy to interpret.

  7. i like reading Says:

    Great Blog…

    Great blog here! Also your web site a lot up very fast! What host are you the usage of? Can I am getting your affiliate link in your host? I want my web site loaded up as quickly as yours lol…

  8. Isreal Nakamatsu Says:

    Thanks for giving your ideas listed here. The other point is that every time a problem appears with a pc motherboard, people today should not take the risk regarding repairing this themselves for if it is not done correctly it can lead to irreparable damage to an entire laptop. It is almost always safe just to approach your dealer of the laptop with the repair of the motherboard. They have technicians that have an competence in dealing with laptop computer motherboard issues and can carry out the right analysis and undertake repairs.

  9. Sierra B. Gonzales Says:

    What is the best blogging platform for a podcast or a video blog?

  10. glass etching Says:

    I just added this web site to my feed reader, excellent stuff. Cannot get enough!

  11. Rosie Pflieger Says:

    Which is some inspirational stuff. Never knew that opinions could be this varied. Thanks for all of the enthusiasm to supply such helpful information here.

  12. Catharine Vares Says:

    I have been in similar situations before. It’s not as easy solution as you thought it may be though, its something that you’ll have to consider for yourself over time.

  13. Davida Butrick Says:

    Your writing is great:)

  14. Isabel Says:

    I together with my guys came looking at the excellent pointers located on your web page and so at once got an awful suspicion I had not expressed respect to the web blog owner for those strategies. Those young boys are already as a result excited to study all of them and now have in fact been taking pleasure in these things. I appreciate you for being really thoughtful and also for selecting this kind of perfect things millions of individuals are really desirous to learn about. Our sincere regret for not saying thanks to you earlier.

  15. Princess Willaert Says:

    Substantially, the article is actually the greatest on this worthw hile topic. I harmonise with your conclusions and will certainly thirstily look forward to your coming updates. Saying thanks will not simply just be sufficient, for the wonderful lucidity in your writing. I will certainly at once grab your rss feed to stay informed of any updates. Authentic work and also much success in your business dealings!

  16. Natasha Says:

    WONDERFUL Post.thanks for share..more wait .. …

  17. Nancy Kerr Says:

    I used to be suggested this blog by means of my cousin. I’m no longer sure whether this post is written by way of him as no one else recognise such targeted about my problem. You are amazing! Thanks!

  18. Margaret McLeod Says:

    Thanks for the thoughts you are giving on this web site. Another thing I want to say is the fact getting hold of duplicates of your credit file in order to examine accuracy of each and every detail will be the first measures you have to accomplish in fixing credit. You are looking to freshen your credit history from detrimental details flaws that damage your credit score.

  19. Catherine McArthur Says:

    Thanks for these pointers. One thing I also believe is that credit cards presenting a 0% apr often attract consumers in zero interest rate, instant authorization and easy online balance transfers, but beware of the number one factor that is going to void your current 0% easy road annual percentage rate and to throw you out into the very poor house rapid.

  20. Aileen Pizano Says:

    I’m truly enjoying the design and layout of your site. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a developer to create your theme? Fantastic work!

  21. Patrick Vogland Says:

    Love your blog!

  22. Pegperego Review Says:

    I adore your wordpress theme, wherever do you down load it through?

  23. Effey Sinclair Says:

    I enjoy what you guys are usually up too. This sort of clever work and reporting! Keep up the amazing works guys I’ve incorporated you guys to my personal blogroll.

  24. Hugh McLellan Says:

    Hey there are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any html coding expertise to make your own blog? Any help would be really appreciated!

  25. Effy McNiven Says:

    Your home is valueble for me. Thanks!…

  26. Ronnie Hertzog Says:

    I’m impressed, I must say. Really rarely do I encounter a blog that’s both educative and entertaining, and let me tell you, you have hit the nail on the head. Your idea is outstanding; the issue is something that not enough people are speaking intelligently about. I am very happy that I stumbled across this in my search for something relating to this.

  27. Donnetta Pesterfield Says:

    This is the correct weblog for anyone who needs to find out about this topic.

  28. Bobby Seel Says:

    We appreciate you this excellent article. I especially enjoyed reviewing it and need to talk to everyone.

  29. Try These Guys Says:

    When drink enters, wisdom departs.

  30. Charla Dokka Says:

    Thank you a tremendous put up, would see your personal others posts. i appreciate your ideas with this, I soon became a lttle bit strike by this article. Merit again! You earn a great moment. Has wonderful data here. I think that in case more people considered it like this, they’d have got a better time frame have the suspend ofing the issue.

  31. Penny Desilvio Says:

    You should take part in a contest for one of the best blogs on the web. I will recommend this site!

  32. Dannie Smarr Says:

    This really answered my problem, thank you!

  33. Gautreaux Says:

    An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers

  34. Dan Warmka Says:

    MY SPOUSE AND I forgot that include the link as well as I do think That would probably be very helpful, which means that see the rails listed here. Possibly related posts: (Automatically generated) Interview Brings Sadness LaughterAll-Star Game

  35. Fritz Ellias Says:

    This short article had been certainly an incredibly wonderful read. My spouse and i was astonished by the items on this submit. I am unable to wait around to determine just what otherwise you’ve got in store for us. I will be surely awaiting the following post. Thank you with regard to expressing!

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.