NEW YORK, May 3, 2019 /PRNewswire/ -- HSA administrators, Clarity Benefit Solutions, shares tips for helping workers utilize their HSA investments.
Typically, employees realize that a Health Savings Account (HSA) allows them to pay for a multitude of health care expenses through pre-taxed funds, and that deductibles, co-pays, and prescription drugs are just a few things that are covered. However, they may not realize that there is a host of other items that HSA monies can be set aside for. Employers need to provide employers with the proper tools to maximize their HSA investments.
First and foremost, ensure that employees understand the extensive list of items covered by HSA funds. For example, many employees may not realize that getting a flu shot at the local pharmacy, receiving chiropractic care or acupuncture treatments, and Botox is covered for medical reasons.
Employees may also not realize that vision benefits are qualified HSA expenses. They can get eye exams, prescription eyeglasses, contact lenses, and LASIK eye surgery. And, they can purchase supplies related to eye care such as eye drops, saline solution, and contact lens cases.
Additionally, employees and their families should know that when they are faced with challenging life situations, HSA funds can help. Psychiatric care as well as drug addiction and alcoholism treatment are eligible expenses. Those who are recovering from an accident or injury can seek physical therapy. Weight loss for treatment of obesity is even covered, as long as it is prescribed by a physician.
Another surprising HSA-eligible expense surrounds the extras pertaining to caring for a loved one who is ill. The following are some examples of items covered by HSA funds: blood pressure monitoring devices, automobile modifications for someone who is physically handicapped, crutches, hearing aids, artificial limbs, wheelchairs, and transportation associated with medical care.
About Clarity Benefit Solutions: Clarity Benefit Solutions HSA administration company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE Clarity Benefit Solutions