Did you know that you can pay for acupuncture treatments with the money you save in a health savings account? Many patients at our Minneapolis acupuncture clinic pay for their acupuncture treatments with their health savings account. Some people who have these medical savings accounts are unaware that they can use the money for alternative treatments that may not be paid for by their regular insurance policy. This means that you can get acupuncture for HSA dollars that are exempt from taxes.
Here’s how it works: These medical savings accounts allow you to deduct an amount of money from each pay check which is then not subject to income tax. You’re allowed to use the money by the end of the year only on medical expenses, and you save on taxes at the same time.
If you’re like most people, you probably didn’t know that you aren’t restricted from using your HSA funds for only doctor visits and treatments that your insurance covers. You can use it for any of the qualified medical expenses that are defined in Section 213 of the IRS Code. (This information is in IRS Publication 502: Medical and Dental Expenses.) Acupuncture is a qualified medical expense for health savings account funds under the IRS code.
That means that the amount you pay for acupuncture treatments are tax deductible. Even the cost of travel to an acupuncture treatment including by car, bus, train, taxi, or airplane. So keep track of it.
This ability to get acupuncture for HSA funds is not only good news for those of you who have already experienced the benefits of acupuncture, but it’s also good news for those of you who have yet to try acupuncture. The studies are conclusive: Acupuncture is known to promote healing for a number of ailments, and the behind-the-times medical establishment is gradually accepting it. Even some large mainstream medical facilities are now including acupuncture treatment services.
If you’re one of those people who believe that acupuncture is strictly due to the placebo effect, think again. Not only are the studies on people conclusive (with control groups to test against the placebo effect), but acupuncture has been very effective on animals. Many veterinarians now use acupuncture, and the animals’ conditions improve significantly. No placebo effect at work there!
For those who have been disillusioned by the lack of insurance coverage for alternative medicine, getting acupuncture for HSA money is a huge plus. It offsets at least some of the frustration with the inadequate coverage for these proven alternative healing methods.
If you want to treat the cause of what ails you rather than just the symptoms, acupuncture is a safe, non-invasive way to feel better and balance all of the systems of your body quickly and without side effects. And now, you can get acupuncture in Minneapolis for tax-free dollars if you have a health savings account.
If you don’t have an HSA, talk to your employer tomorrow. It’s one of the best ways that you can cut your taxes and also save on alternative treatments like acupuncture in Minneapolis.
If you are a man or woman seeking better health and live in the Minneapolis/St. Paul, Twin Cities area be sure to click on this link and sign up for our free e-book: Acupuncture For Cynics. It explains how acupuncture works and the benefits to you.
About the author: For more than 20+ years Steven Sonmore helped people transform health problems into solutions for attaining better health. Steven is a licensed acupuncturist, herbalist and a certified instructor by Health Preservation Association. He maintains an active practice in Minneapolis, MN.