What You Need to Know About FSA and HSA Coverage
We all know that it’s important to take care of our teeth and visit our dentist regularly for cleanings and routine check-ups. But in today’s economy, paying for those services can be difficult. Don’t let financial concerns prevent you from getting the dental care you need in order to stay healthy. Whether you have dental insurance, a Flexible Spending Account, a Health Savings Account, or no insurance at all, Carolina Family Dentistry can help you navigate the financial aspects of paying for your dental care. Let’s take a look at some of those options.
An FSA is a Flexible Spending Account. You can choose to have a set amount of money (you decide how much) deducted from your paycheck pre-tax and placed into an FSA. You have to be careful when estimating how much to have withheld, though, because these funds do not roll over from year to year. If you don’t use it, you will lose it. You can use these funds to pay co-pays, deductibles, prescriptions, medical, dental, and vision expenses, and even some over the counter medications and childcare expenses. Most dental procedures are covered except for cosmetic services such as teeth whitening and veneers. It’s a good idea to check your FSA website to verify that your procedure is covered before you begin treatment.
What is an HSA? An HSA is a Health Savings account. In some cases, your employer may put money into this account for you. You can also put money into this account pre-tax from your paycheck and use it for health expenses such as co-pays and deductibles, as well as health, dental, and vision expenses. In most cases, you can’t use an HSA to pay insurance premiums, but like the FSA most dental procedures are covered except for cosmetic procedures. Unlike the FSA, this money stays in your account until you use it and if you change employers, your plan goes with you. Again, it is a good idea to check your HSA website to verify that your procedure is covered before you begin treatment.
What if you don’t have dental insurance, an FSA, or an HSA? You can still get the dental care you need at a price you can afford. Carolina Family Dentistry has a Patient Savings Plan that can help you get the dental care you need at reduced cost. Contact our expert financial coordinator to learn more about your options.