Does An Hsa Cover Alternative Medicine?
|
A Health Savings Account (HSA) does not really cover alternative medicine. However, there is a bit more to it.
A person using an HSA can withdraw money from this special type of savings account for any type of "approved medical expense." Approved by whom? The IRS.
So, the IRS pretty much thinks that proper medical expenses are any types of Western medicine ? pharmaceutical drugs, surgery, doctor visits, etc.
However, there are a few things on the list that are alternative medical options. Chiropractors are on the list. So is acupuncture.
With acupuncture, it must be considered "medically necessary." That means that a doctor (MD or DO) must say that he thinks you should see an acupuncturist and write a prescription for it. Then you can see an acupuncturist and pay for it with the money from your HSA.
But there's one more thing. When you are using an HSA in conjunction with a high-deductible health insurance policy, you start seeing the "real costs" of everything you do, up until you hit that "high deductible" each year.
When you start seeing the real costs of Western medicine, at that point, alternative medicine might start to look really good.
Consider the following:
A routine doctor visit done before you meet your deductible may cost you about $100. That is one hundred dollars for about a seven-minute visit. (HMOs like doctors to have short visits with their patients.)
Now think about an alternative medical provider. Let's take a naturopath as an example. A naturopath may charge about $90 for your first visit. That visit will probably take about an hour and a half.
Let's look at the cost in dollars-per-minute:
The doctor visit costs $14.28 per minute.
The naturopath visit costs $1.00 per minute.
You might think a doctor is better qualified to understand your health problems, but do you think they are 14 times better qualified?
Health Savings Accounts will cause all of us to evaluate our options. We'll look at all the aspects of Western medicine and alternative medicine (or integrative medicine) and we'll choose the ones that make the most sense.
Health Savings Accounts will change how we think of health insurance. They are a wonderful tool that almost every American can and should benefit from. And they're available today!
Daryl Kulak is the author of the book "Health Insurance Off the Grid - A Wonderful Way to Use Alternative Medicine and Save Money on Insurance Using the New Health Savings Account (HSA)." The book provides a nine-step plan to get your individual health insurance costs under control using a unique approach you won't find anywhere else. The book is available for sale as an e-Book or paperback at the Website http://www.healthoffthegrid.com
|
|
|
Inside-information Regarding Your Motor Vehicle Accident Insurance Claim
Here's some "Inside-Info" you must know so you won't be taken advantage of on your motor vehicle accident insurance claim and also: SO YOU CAN COLLECT EVERY DOLLAR THAT'S OWED TO YOU !The following 8 are just "The Tip Of The Iceberg":#1. There are situations where you can collect for your "Lost Wages" even if you were paid by your employer and/or collected "Sick Leave" while unable to work.#2. You can collect money and be reimbursed for any and all "Over The Counter" (non-prescription) medication you purchased during your recovery.#3. Under normal circumstances unless a claim ends up in court (several years after impact has taken place and you are fully recovered) you do not have to agree to be examined by the insurance company's doctor.#4. There are many times t...(related: Insurance)
Finding Auto Insurance Comprehensive Coverage
You can go online to easily find and quote auto insurance comprehensive coverage.The definition could include basically (2) trains of thought. Often the term comprehensive merely applies to thorough physical damage in the event of loss to the vehicle itself. That's when auto insurance comprehensive coverage comes into play.The other thought relates to overall benefits that include bodily injury, uninsured motorists, medical payments, under insured motorists, comprehensive and collision features. That essentially provides broad and pretty thorough coverage.A broad range of coverage's naturally determine the final premium to be paid. You can adjust by picking and choosing, then requiting and eventua...(related: Insurance)
A Free Term Life Insurance Quote Is Only Easy To Obtain
By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need....(related: Insurance)
Cut Business Insurance In 8 Ways
1. Comply with recommendations from company engineers and loss control. Naturally, the company will be more favorable to their customers who help keep losses down.2. Voluntarily take steps to eliminate hazardous conditions and create a safe environment any company would want to insure. And safeguard your property to reduce the risk of theft and damage. This puts you in a position of deserving the lowest rate possible.3. Make a list of the actions you've taken to reduce your risk. I'll be able to use that list to negotiate your rates.4. Minimize your claims. The businesses that will get the highest rate increases, or not be able to get insurance at all, will be those with frequent small losses or who ignored loss control...(related: Insurance)
Individual Health Insurance Plans - How To Find The Best Provider Online
Whether you are self-employed or a small business owner, finding an affordable individual health insurance plan has gotten easy with online health insurance providers. By comparing quotes and coverage plans, individuals are able to choose a provider that best meets their needs. Before you pick the plan with the low...(related: Insurance)
Finding Fast Life Insurance
Since the widespread growth of internet usage and database building it's never been easier or quicker to find fast life insurance. There was a time not long ago that the project could drag out forever. The process began ...(related: Insurance)
Finding Health Insurance For Self-employed Individuals: A Guide For The Freelance Newbie
With a rise in those looking to venture out on their own in the business world, health insurance for self-employed workers is a priority. At first glance, obtaining health insurance for self-employed individuals may seem difficult and quite overwhelming. However, with research and education, finding the right policy can be done with ease.Self-employed insurance is for those who own a private business, or for freelancers such as writers, designers, artists, etc., who work on their own. Before purchasing a plan, it is advisable to learn as much about the specific poli...(related: Insurance)
Protecting Your Expatriate Family
If you and your family relocate overseas, one of your first priorities from a financial planning point of view may very well be establishing health care.Costs and services abroad can differ greatly to what you are accustomed to 'back home'. Therefore it's essential to make sure that you are fully covered.Starting with straight health insurance for you and your family you may the...(related: Insurance)
Health Savings Accounts (hsa): How Do I Tell A Good One From A Bad One?
The Health Savings Account (HSA) is becoming well-known as an incredible tool to reduce health insurance premuims and yet provide good security for healthcare emergencies.But what should consumers watch out for? Are there good HSAs and bad HSAs?The answer is "not really." All HSAs are made to be quite similar, by federal law. They must conform to the national standards.However, there are some subtlies that differentiate HSAs as, not good or bad, but maybe good and better.The first thing to ask about an HS...(related: Insurance)
What Is Pet Health Insurance?
Pet Health Insurance can give you the peace of mind that you are covered against unexpected vet bills. Having a pet can be a costly affair when you consider such expenses as food, vaccinations and checkups. But did you know that the cost of surgery can run into thousands of pounds? Would you be able to afford the vet's bill for major surgery should your pet fall ill or the cost of a claim against you if your dog runs out into the road causing a road traffic accident?One of the most distressing situations to arise is when a pet's problem is curable but the cost is too high for the owner to be able to afford, and consequently the animal has to be put to sleep. A less serious situation is when the owner has to opt for the less than best treatment due to money constraints. Obviously wi...(related: Insurance)
Mortgage Insurance Plans: How Good Is Yours?
Mortgage insurance, to pay off a mortgage, is something you'll inevitably be asked to take out by the bank. Mortgage insurance is necessary so that if something happens to you or your spouse then your loan will be paid off which is good news for your family and the bank. Banks act as if doing you a favour by offering mortgage insurance through their own group plan. Are they?Mortgage Insurance Is Probably A Much Better Deal From Any Number Of Insurance Companies.Mortgage insurance is no different than term life insurance; in fact it is term life insurance. With either, your policy ...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance