Using Flex Spending Accounts (FSAs) to Pay for Dental Care
Here at Artistic Expressions Dentistry, we want to make sure that patients make smart choices that are well informed. That goes for dental treatments as well as financial decisions regarding their dental health. Patients from all over the greater Doylestown and Philadelphia area have counted on us to help them make the best decisions about advanced restorative dentistry treatment and general dental care.
The topic of FSAs has been coming up a lot lately, so we'd like to take a moment to explain why they might be ideal for you and your dental health needs.
What are flex spending accounts (FSAs)?
A flex spending account (FSA) is a tax-advantaged financial account set up through a person's employer. An FSA allows employees to set aside part of their pay before taxes are deducted. This money is set aside in an account that is used to cover approved medical and dental health expenses.
How do FSAs work?
FSAs are made available to employees at the beginning of each year, so it's important that employees meet the sign up deadlines in order to qualify. There is an annual cap of $2,500 on the FSA account. Paperwork and documentation is submitted following a dental or medical treatment, and reimbursement from the account is issued upon approval. It's important that patients check what documentation is needed to ensure speedy reimbursement with as few hassles as possible.
What procedures are eligible for FSA coverage?
Your FSA should cover the following general dental care procedures:
- X-rays
- Dental fillings
- Inlays and onlays
- Dental crowns
- Tooth extractions
- Fluoride treatments
- Professional cleanings
- Dental implants
- Orthodontic care
Sometimes the FSA will also approve other prescription treatments designed to improve patient health and wellness, such as at-home water fluorination. Be sure to double check with your provider to ensure that your treatment is covered.
What procedures are NOT eligible for FSA coverage?
Cosmetic dentistry treatments and other procedures that are purely aesthetic are generally not covered by FSAs. These include:
- Teeth whitening
- Porcelain veneers
- Dental bonding
- Smile makeovers
In those cases, it's important to consider other payment plans (such as monthly financing) that can make paying for treatment much easier and more convenient.
The Advantages of Using FSAs
When you use an FSA, the amount set aside for the account lowers your total annual income, which can lead to a savings on your income taxes if you plan the use of an FSA right. Patients are able to potentially save hundreds of dollars if they are careful with their numbers.
FSAs will sometimes have special rollover plans for any unused money at the end of the year. Be sure to check with your employer and provider to find out about these options as they will vary. This can be beneficial if you have long-term dental care or medical care plans.
Making the Best Decisions for You
While FSAs may be beneficial to a number of people, they are not necessarily the best decision for you and your needs. Monthly financing and other options for payment may be better suited to the needs of patients. We encourage you to get in touch with us so we can help you make the best decisions for payment based on your current situation and your long-term dental care needs.
Learn More About FSAs and Options for Dental Treatment
If you would like to learn more about the use of FSAs to pay for dental care as well as other options for payment, it's important that you contact our cosmetic and restorative dentistry center today. During your consultation, we will be more than happy to go over all of the advantages and disadvantages of various payment plans so that you can make confident choices about your dental health and your finances.