DO YOU KNOW THAT YOUR THERAPY MAY BE COVERED BY A HEALTH SAVINGS ACCOUNT?
Health Savings Account (HSA), Medical Savings Account (MSA), or Health Reimbursement Arrangement (HRA).
- Use pre-tax dollars from your income for future medical expenses.
- Funds can be used for deductibles, copayments, and qualified health expense that aren’t covered by insurance such as those provided by out-of-pocket network providers.
How does this work?
- Based upon your health and mental healthcare needs, you would have your employer deduct a certain amount from your paycheck over the course of the year, and deposit it into your account.
- Check with your health plan for instructions.
Can I submit an invoice for a missed session fee?
- No, missed session fees are not eligible for reimbursement.
Is Therapy covered by health savings accounts?
- Yes! I accept all types of Health Savings Accounts.
If you do not have one of these accounts, you could speak with your tax preparer to determine if you could deduct therapy expenses from your taxes as an out-of-pocket health expense.
Please note that HSA accounts make it harder to get couples therapy covered, so check with your account details before you begin.
For more on HSA’s please go to the following website for an easy to understand online resource: