HSA/FSA FAQs
What is a Health Savings Account?
A health savings account (HSA) is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a HSA to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums. Talk with your bank or your employer for more information.
What is a Flexible Spending Account?
A flexible spending account (FSA) is an arrangement through your employer that lets you pay for many out-of-pocket medical expenses with tax-free dollars. Allowed expenses include insurance copayments and deductibles, qualified prescription drugs, insulin, and medical devices. You decide how much to put in an FSA, up to a limit set by your employer. You aren't taxed on this money. Talk with your employer for more information.
Can I use my HSA or FSA to see you?
Yes, regardless of whether or not you are submitting for reimbursement from your insurance provider you can use an HSA or FSA to pay for physical therapy services.
Why would I pay cash to see a provider?
My focus is 100% on you
Empower Physiotherapy is a cash-based practice because we believe that high quality physical therapy is best delivered with you, the client, being the center focus of the care being delivered. Insurance companies will often limit how many visits are covered, or poorly reimburse for therapy which results in shorter treatment sessions, seeing more than one patient at a time, or both.
You want highly personalized care
I provide one on one sessions that generally last 45+ minutes. This allows us to focus on you and the issue you’re working to recover from. If your therapist is dividing their attention among 1-2 other clients at the same time, how focused are they on your issue? Or if you have a 25 minute session with a therapist instead of 45+ minutes, did you get the same amount of care or time?
You have a high deductible plan
These are becoming more common. If you have a deductible of $6,000 and are unlikely to meet your deductible over the course of the year, an out of network can be a cost effective way to access high quality care.
You have good out of network benefits
If you have good out-of-network benefits, your insurance company may reimburse you as much as 80% of each session fee, depending on your plan and the therapist’s rate. In some situations, using your out-of-network benefits can actually be more affordable or comparable to your standard co-pay to see an in-network therapist.
Privacy
If you would prefer not to disclose your health information to your insurance company (which would be required for in-network or reimbursement for out of network), you can choose to pay privately for services.