Can I Use My Health Savings For STD Testing?
If you’re curious about STD or STI testing, it’s important to know your options for financing and payment. Most people have some form of health insurance, but many times that health insurance doesn’t cover STD testing and a high deductible may be building a wall between yourself and the healthcare you need. Luckily there are options available for patients that need financial help to obtain proper care and prevention.
What is an HSA?
HSA or health savings accounts are available to people enrolled in high deductible insurance plans. This type of savings plan works through tax-free deposits that you make into the account that then works like a bank account that you withdraw from for medical expenses not covered by your insurance. HSAs can assist you in paying your co-payments, lab testing, and prescriptions. Once you turn the age of 65 you can withdraw any unused portions of the account.
What are your limits?
The annual limit to HSA contributions is $6900 for those under 55 years of age. After age 55 you can contribute an extra $1000 per year to your account. Health savings accounts are only available if you have a qualifying health insurance program, so it is important to stay informed and to find out if you qualify.
If you don’t qualify for a health savings account but are insured through your employer, you may be interested in an FSA or Flex spending account. An FSA account is like a health savings account, but you do not need to be enrolled in a high deductible health insurance plan. You can contribute to the FSA tax-free and use it to pay for medical expenses. Flex spending accounts have lower contribution limits than HSA. The maximum contribution for an FSA is $2650 per employee per year.
How to use your FSA or HAS account
HSA- Once you establish a HSA account you need to go through a couple of steps before you’re able to use the account. Once you get your savings account card you can use it at any medical providing establishment the same way you would use your regular debit card. After visiting your doctor or having testing done, you will need to gather relevant information about the medical expenses so that you can submit the receipt as proof that the intended funds were used for a medical, dental or health testing.
FSA- Using this kind of account is a little different than using an HSA. You will have to pay for the medical expenses up front out of your own pocket. Once you have gathered the information and proof of the medical expense you will submit it to your employer who will then file a claim on your behalf to be reimbursed for the expense through your flex spending account.
Purchasing A Test
Let’s talk about using your HSA Account for STD testing. If you are sexually active it is important to take care of your sexual health and to get tested on a regular basis. At myLAB Box™, we have the right test to fit your needs and maintain your health. Prevention is key, but early treatment can stop the progression and spread of STDs or STIs. This type of testing can be covered through the use of your HSA or FSA so take advantage of your savings and purchase a kit today!