This may appear to be an odd time of year to discuss HSA/FSA funds, but the American Association of Orthodontics (AAO) and the Texas Association of Orthodontics (TAO) believe it is the most appropriate time to do so. And, more importantly, you are not required to wait.
HSAs, or Health Savings Accounts, and FSAs, or Flexible Spending Accounts, are two types of savings accounts that allow you to set money aside on a pre-tax basis to pay for qualified medical expenses, such as orthodontic treatment. Money saved throughout the year is a salary that does not have to be taxed. You save money by using untaxed dollars in an HSA or FSA to help pay for your family’s orthodontic treatment! Furthermore, one of the AAO’s top federal advocacy priorities is Congressional expansion of patients’ rights to use FSAs. The AAO is working to get the federal RAISE Act passed, which would significantly increase the amount that families can contribute to their FSA each year.
Most financial institutions agree that the flexibility of these types of accounts can be ideal if your medical expenses are predictable each year. We encourage you to take action right away and contact your HSA or FSA provider for more information.
You can also find a specialist in your area by visiting the Texas Association of Orthodontists local directory. When you find a doctor, set up a consultation for yourself or your child. Most offices will be happy to assist you in using your HSA or FSA funds to finance your orthodontic care.
Furthermore, always trust an orthodontic specialist, as they have an additional 2-3 years of training specifically in moving teeth and providing their patients with a beautiful and healthy smile.