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Use HSA/FSA Funds Towards Ortho Treatment Before The End Of 2023

Home > Use HSA/FSA Funds Towards Ortho Treatment Before The End Of 2023

Use HSA/FSA Funds Towards Ortho Treatment Before The End Of 2023
Women Pointing at a Lady After Having Orthodontic Treatment with FSA or HSA

The year is coming to a beautiful close, and we hope you end it on a good note. One of the things you should check off your bucket list is making the most of your health-related benefits. If you have a Health Savings Account (HSA) or Flexible Spending Account (FSA), this is a valuable opportunity you must maximize to the fullest. 

As someone considering using their HSA/FSA funds for ortho treatment in Matthews near Weddington and Indian Trail, NC, we advise that you get it done before we usher in the new year. Be strategic and financially savvy when making decisions about your dental plans as we round up the year. Let us dive deeper into this topic to help you understand why using HSA/FSA funds for ortho treatment before the year ends is important. 

What is an HSA and an FSA?

Having decided to get orthodontic treatment with an FSA or HSA, you should know what HSA and FSA mean. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are financial tools that allow you to set aside your pre-tax dollars to cover legitimate medical expenses. HSAs are associated with high-deductible health plans, and FSAs are available through employer-sponsored benefit programs. 

It is important that you understand the difference to enable you to swiftly enjoy your benefits and get your orthodontic treatment in Matthews and its surrounding areas. The tax savings offered by these accounts is one of their key advantages. Before taxes are deducted from your paycheck, contributions are made to HSAs and FSAs, reducing your taxable income. You’ll be delighted to know that any investment or interest gains on the funds within these accounts will be tax-free. 

Orthodontic Treatment and Eligibility

What orthodontic treatments are considered eligible for HSA and FSA funds? Orthodontic treatments like Invisalign or braces are qualified medical expenses to be covered by your HSA and FSA funds. These accounts can be used to cover a wide range of orthodontic services, including retainers, consultations, braces, X-rays, and other related expenses. 

However, it is important to note that orthodontic treatment must be deemed medically necessary to qualify for reimbursement. Only a qualified healthcare professional such as an orthodontist, can determine whether it is necessary or not. The orthodontist will assess your oral health and recommend treatment based on health-related concerns. Individuals living in North Carolina should contact our dental clinic to utilize their HSA/FSA funds in Matthews. 

Advantages of Using HSA/FSA Funds for Ortho Treatment

We understand that you need to have the necessary information before deciding whether to use HSA/FSA benefits in Matthews. Here are some advantages of using orthodontic treatment with an FSA or HSA:

1. Tax Savings

The primary benefit of using HSA or FSA funds for orthodontic treatment is the tax advantage. By using pre-tax dollars, you can effectively reduce the overall cost of your dental treatment. 

2. Financial Planning

Allocating funds from your HSA or FSA toward orthodontic care allows for better financial planning. It helps you manage healthcare expenses without affecting your daily budget. 

3. Maximizing Annual Contributions

HSA and FSA accounts have annual contribution limits and utilizing the funds for orthodontic treatment helps to ensure that you maximize your contributions. This will help you avoid any potential need to forfeit unused funds toward the end of the year. Contact us to know how you can fully maximize your HSA/FSA benefits in Matthews before the clock strikes midnight on December 31, 2023. 

4. Improved Oral Health

If you want to improve your oral health, invest in orthodontic treatment. This enhances the aesthetics of your smile and contributes to improved oral health. Address the bite issues and misalignments now, and prevent future dental problems while potentially saving money on dental care in the long run. 

Steps to Take to Get Orthodontic Treatment With an FSA or HSA

If you want to know how to use your HSA/FSA funds in Matthews, follow the steps below: 

  • Consultation: Schedule a consultation with an orthodontist to determine if orthodontic treatment is medically necessary for you or your dependent. Without an examination, your orthodontist cannot tell if orthodontic treatment is needed. 
  • Verification: Make sure to confirm with your orthodontist that the proposed treatment is eligible for reimbursement under your HSA or FSA. 
  • Budgeting: After confirming that your treatment is eligible for reimbursement, you can plan and budget. Evaluate the remaining balance in your HSA or FSA and plan your orthodontic expenses accordingly. Take note of the annual contribution limits so as not to surpass them. 
  • Claim Submission: Ensure to keep all receipts and documentation related to your orthodontic treatment. Submit them to your HSA or FSA provider for reimbursement before the year ends. 
Ortho Treatment in Matthews, NC

Use Your HSA/FSA Funds for Ortho Treatment in Matthews Near Weddington and Indian Trail, NC

Do you know that it is a smart move to maximize your HSA/FSA funds for ortho treatment in Matthews near Weddington and Indian Trail, NC before the end of 2023? You not only enjoy tax savings, but you also get to invest in your oral health and reap long-term benefits. Take proactive steps today by consulting with our orthodontist for your orthodontic treatment in Matthews. Understand your eligibility, and make the most of this valuable opportunity. Do not allow these funds to go to waste, utilize them properly, and start the new year with a confident and healthy smile.

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