Disfigurement, either by disease or accident, can be emotionally painful, especially in a society that tends to be extremely image-conscious. Shreveport locals who are going through such an experience can seek the help of a trusted Shreveport plastic surgery center like Knight and Sanders in identifying solutions.
Still, a reconstructive surgery isn’t cheap, much like other medical procedures for that matter. Fortunately, people who need reconstructive procedures may resort to a number of available means for financing, one of which is the medical flexible spending account (FSA).
U-T San Diego writer Erinn Hutkin discusses the FSA in an article:
More and more people are opening flexible spending accounts because even the best health plan require out-of-pocket co-payments and deductibles for office visits, prescriptions, trips to the emergency room, hospitalizations and more.
Flexible spending accounts allow people to set aside pretax dollars for eligible medical, dental and pharmacy expenses, as well as dependent day care expenses.
A health care FSA is one of five related accounts, which also include health premiums, dependent care for children and elderly adults, and adoption assistance. Health care FSAs are one of the most common types, and can be combined with an existing health insurance to help cover a medical expense that a typical insurance policy doesn’t.
In general, all types of FSAs work the same. They are all tax-advantaged financial accounts in which individuals can deposit a portion of their pretax paychecks. FSAs are beneficial to both employers and their employees over time—for instance, employers can reduce their payroll expenses, and both parties can also save on social security taxes. A well-maintained FSA can also pay for out-of-pocket medical expenses, as well as monthly health insurance premiums,
Medical FSA eligibility entails specific factors and requirements. For one, the prospect holder must work with an employer that offers FSA benefits. FSAs work much like taxes, although they differ in one thing: the employees determine the amount that would be deducted evenly out of their paychecks and be set aside for their FSA. Employees, however, must make sure that the money they set aside will be used for eligible expenses, which may vary from case to case, so FSA holders should best inquire with their employers about their particular situation.
Plastic surgery for purely cosmetic reasons is typically not covered by FSAs. However, patients with disfigurements can make full use of a health care FSA to pay for the services of skilled Shreveport plastic surgeons if they can prove that their condition is due to an accident or a disease. Such a case is classified as an eligible expense, according to the IRS.
(Source: When Insurance Isn’t Enough, FSA’s have got you Covered, U-T San Diego, October 28, 2014)