What is an HSA?
HSA stands for health savings account. It’s a savings account used to pay for qualifying medical expenses. The money in the account is tax-deferred and accumulates interest over time if it’s not used, making it an excellent way to save money. You are only allowed to contribute to an HSA if you have a qualified high-deductible health plan (HDHP).
What is an FSA?
FSA stands for flexible spending account. It is also known as a flexible spending arrangement. It is one of a number of tax-advantaged financial accounts, resulting in payroll tax savings. It is similar to a health savings account (HSA) or a health reimbursement account (HRA).
What are the qualifying medical expenses an HSA will pay for?
HSAs are usually meant to pay for things that insurance doesn’t. To name a few of the typical expenses, HSA can pay for: copayments, dental work, prescriptions, and eyeglasses and contact lenses. You can also use it to pay for alternative medicines like acupuncture and chiropractic alignments, as well as things like fertility treatments and diagnostic services.
You can use the money to pay for non-medical expenses, but you will face a 20% tax penalty, so it’s not the best idea. After you turn 65, you can withdraw the money and use it as you wish, only paying an income tax on any non-medical spending.
Which nutritional supplements or natural products are included?
If you are taking nutritional supplements or natural products (nutraceuticals) for general health purposes, those cannot be paid for from your HSA. But, if your healthcare provider recommends you take a supplement to treat or prevent a specific health condition, it would be considered an eligible expense.
For example, if your chiropractor recommends glucosamine to treat your joint pain or your doctor recommends a vaginal moisturizer to treat your vaginal dryness, those would be eligible expenses.
On the other hand, the cost of a daily multivitamin you take “just in case” would not be eligible.
Obtain a "Letter of Medical Necessity"
If you have a HSA or FSA, you may want to obtain a "letter of medical necessity" for NeuEve, related dietary supplements, vaginal microbiome tests (like Juno or Evvy), and/or devices (like dilators) for treating your vaginal infection and/or menopause related discomforts like vaginal dryness, atrophy and painful sex, and ask your doctor, physical therapist, or nurse practitioner to sign, so you can get it approved for reimbursement.
Letter of Medical Necessity is a common letter that your doctor's office may provide. If they do not have one, you can prepare it to include all necessary products and lab tests like NeuEve, supplements, lab tests from Evvy or Juno, and dilators for relieving your specific discomforts for your doctor or nurse practitioner to sign.
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Letter of Medical Necessity Sample
To Whom It May Concern:
Jane Dole has recently been diagnosed with vaginal atrophy (atrophic vaginitis), BV (bacterial vaginosis), or AV (aerobic vaginitis), which causes discomforts like vaginal dryness, itching, burning, discharge, and/or painful sex. The symptoms have gotten progressively worse, to the point where they are beginning to affect the lifestyle that Jane can live.
Jane has taken many medications, but they have not been successful in remedying the problem. There is a new product called NeuEve that can be used to combat these discomforts. Additionally, having vaginal microbiome tests, taking dietary supplements like calcium, vitamins D3 and K2, sea buckthorn oil, and collagens, and/or performing dilation exercise with a set of dilators can help Jane relieve these discomforts. However, these products and/or tests are currently not covered under Jane's healthcare program.
Jane has an HSA/FSA account. Please consider reimbursing the costs of these products and/or tests from her HSA/FSA account.
If you would like additional information about Jane's health status, don’t hesitate to contact me at 123-456-6789.
Sincerely,
Dr. John Smith