health fund accounts allow you to set up a tax-deductible account to pay for medical expenses that are not covered by health insurance. These include the costs to cover the deductible and other medical expenses like dental and eyeglasses. But many people do not 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 of a health savings account money to pay for medical expenses tax-free, for anyone who has an HSA through a funnel all alternative medical expenses and HSA can get a tax write-off. This may include biofeedback, naturopathic, ayurvedic, aromatherapy, magnetic healing, reflexology, and the list goes on.
People who use complementary therapies are often very health conscious and go to traditional doctors less often. So it makes no sense that they are paying a high commission for traditional health insurance plan with a co-pay, especially if the medical treatments not covered otherwise. Instead, many are choosing a low-cost, high-deductible HSA plan.
Alternative therapies are becoming mainstream
Many hospitals are now additional treatments. The Memorial Sloan-Keating Web site for the Cancer Center says that the complementary therapies used to "help relieve stress, reduce pain and anxiety, manage symptoms, and promote a feeling of well-being."
Some group health insurance plans are beginning to gain more additional costs, but there is still very little coverage for these costs to the individual or family plans. Those that cover chiropractic limit coverage of 12-20 visits per year and covers a limited amount of acupuncture. But very few if any cover hypnotherapy, Reiki, iridology, or faith healers.
Why Complementary Medicine
used by the majority of traditional medicine called allopathic MD. The philosophy is contrary to methods using this system to treat disease and injury. For example, if there is a fever you can aspirin to go down, if it can be increased to the level of cholesterol in statin reduced if the heartburn it can take an antacid. The thinking is mostly focused on removing 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 of the organization & # 39; s own healing power that can strengthen the use of certain foods, vitamins, herbs or other "natural" treatments. Traditional Chinese medicine (TCM) is based on ancient Chinese theories of the balance of yin and yang. Ayurvedic principles based on movement, metabolism and structure.
reaction to the growing use of complementary therapies cost, side effects, and the philosophy of conventional allopathic medicine. Doctors get a lot of continuing education for the pharmaceutical industry, and work in an environment where insurers and patients alike are looking for a quick fix. The result is that the average 60 year old just lost five regular medicines, there can hardly be expected that these drugs can cure more health problems, which & # 39; re-used. Many consumers see this, and instead using other methods to try to get to the root of the disease.
What constitutes a "HSA qualified expenses "
IRS publication of a qualified medical expenses have been partially defined 502 and the various federal court rulings. There is no definitive list, but there is really very little restriction as long as the procedure is only the treatment or prevention of a specific medical condition. For example, you could not use your HSA funds to pay for a relaxing massage in your own personal pleasure. But if the doctor recommends a special massage for medical reasons, it is considered a qualified expense. Yoga is generally not considered a qualified medical expense, but it would be nice if they offered some kind of physiotherapy following an accident.
Some question why the government would give a tax deduction for someone using some crazy energy vibration machine to cure cancer. But this is as it should be. Not one, but should be able to decide what type of treatment will be using their own diseases. By individuals more responsibility for health as they see fit, health insurance accounts encourage personal responsibility and help loosen the monopoly on health care was a traditional medicine in the last few decades.