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

In The News:


pen paper and inkwell


cat break through


How Do I Lower My Auto Insurance Rates?

Since there are many factors that go into determining your... Read More

Why Buy Life Insurance?

Love. Yes, that's right. Love for your spouse, children, family,... Read More

Health Insurance And Insurance Brokers

If you are in the market to purchase your own... Read More

Risk Retention Groups RRG

In response to a hard insurance market in the mid... Read More

State Farm Auto Insurance ? Heres A Few Factors That Determine Your Rate

There are many factors that affect the insurance rate you... Read More

Discount Auto Insurance - Keep Your Hard-Earned Money

Finding discount auto insurance is so easy when you do... Read More

Car Insurance Online ? Benefits of Applying for Auto Insurance Online

Drivers are applying for auto insurance online not just for... Read More

Which Car Should You Own To Keep Your Insurance Rates Most Affordable?

Do you consider the cost of insurance before you buy... Read More

Can I Really Get Life Insurance, No Exam Required?

Changing the way that life insurance is bought and sold... Read More

Health Care and Health Insurance Costs Can Be Controlled Through Lifestyle Choices

As you probably know all to well, the cost of... Read More

Photography Insurance-Insurance for the Photographer

Part and parcel of establishing your own photographic business is... Read More

Cheap Insurance - Ten Ways

Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance... Read More

Guide to Life Insurance Terms

Listed below is a useful guide to life insurance terms.... Read More

Millions of Americans have No Life Insurance

Only 61% of adult Americans have life insurance (down from... Read More

Individual Health Insurance Plans - How To Find The Best Provider Online

Whether you are self-employed or a small business owner, finding... Read More

Filing Homeowners Insurance Claim Forms: What Steps to Take

Filing a homeowners insurance claim can be done with ease... Read More

10 Tips to Save on Healthcare Insurance

Americans shopping for their own healthcare insurance can substantially cut... Read More

Car Insurance Quotes Online ? Why You Should Use the Internet to Find a New Insurance Company

Before the internet, you picked a neighborhood car insurance agent,... Read More

The Surety Bond Domino Effect

I have written many articles about the hard surety bond... Read More

Health Insurance Plans - Benefits to Different Plans & Providers

Health insurance plans vary in their coverage and prices. The... Read More

What Should I Do About Billing Problems When Using HSA Money?

If you run into a billing problem or misunderstanding with... Read More

What Do You Mean My Auto Insurance Policy Doesnt Cover This!!

Auto insurance is an agreement between you and your insurance... Read More

What is Home Insurance?

Home Insurance is designed to provide you with financial protection... Read More

Why Would I Need Auto Insurance Specialists?

If you do not understand the way that auto insurance... Read More

Senior Life Settlements- A New Financial Dawn Emerges

When delving deeper into the market-driven research on the myriads... Read More

What Are The Auto Liability Insurance State Minimums For My State?

As you shop online for the best auto insurance deals... Read More

Life Insurance Fears Post the London Bombings Tragedy

Following on from the tube train and bus bomb attacks... Read More

Insurance For The Self Employed And Those Seeking Health Insurance

First of all, congratulations on deciding to go out and... Read More

Poor call centre performances driving motorists online for insurance

In their efforts to cut costs more and more finance... Read More

Ever Wondered What An Auto Insurance Claim Adjuster Does?

An auto insurance claim adjuster works for the insurance company... Read More

Choosing Long-Term Care Insurance

A little over sixty percent of the folks who reach... Read More

Everyone Wants The Cheapest Automobile Insurance Quote

When you are looking for an automobile insurance quote, the... Read More

Life Insurance, the Universe, and Everything

You may have noticed that life insurance is coming back... Read More