Can I Use My Health Savings For STD Testing?

If you’re visiting myLAB Box’s website, chances are high that you are curious about STD testing. Obviously, that’s great news. Regular STD testing is the smartest and most responsible way to keep track of your sexual health. That said, it’s critically important that every person understands the available options for financing and payment when it comes to testing.

Can you use health savings for STD testing? Why would someone want to test without insurance? These are just a few questions we’ll be delving into with the information below.

STD Test Price Talk: Insurance vs. Paying Out-of-Pocket

In general, many folks have some form of health insurance. Unfortunately, many times that insurance won’t actually cover STD testing. Even worse, a high deductible may be building a wall between you and the care you need. Luckily there are options available for patients who need financial help for obtaining proper care and prevention.

If you’re not expecting it, STD test prices can appear to be rather high. You see, insurance companies will often decide not to cover preventative screenings. A lot of these plans are designed to work after you’ve already been infected. Put bluntly, preventative care is not often treated with the respect it deserves.

The fact is, many sexually transmitted infections and diseases do not even show symptoms. Even worse, certain STDs and STIs may require more than one screening. If you rely on medical insurance, this can leave you in a tough spot. If you’re not covered, then you will often need to pay for this “extra care” directly out-of-pocket.

When Privacy Matters

Of course, getting tested through insurance also means that you will likely get a bill for the lab work required to get your results. While this may not be a big deal to some, it can be the thing that keeps others from getting tested at all.

A lot of people are understandably nervous about testing. Often they are too shy to go to a clinic or doctor’s office in the first place. This is also true for many sexually active teens. For them, the idea that a bill from an STD testing lab might be reported on their parents’ health insurance is terrifying.

What is an HSA?

So now that we understand the negatives of paying with insurance, let’s explore some alternative payment options. For many of us, this means using an HSA or health savings account. Typically, an HSA is available to people who are enrolled in high deductible insurance plans. This is often called a High Deductible Health Plan, or HDHP. In a nutshell, an HSA is a savings plan that works through tax-free deposits that you pay into the account. In turn, this account then allows you to make withdrawals for certain qualified medical expenses that aren’t covered by insurance. HSAs can assist you in paying your co-payments, lab testing, and prescriptions. Once you turn 65 years old, you can withdraw any unused portions of the account.

Basically, using an HSA to pay for deductibles, copayments, coinsurance, and some other expenses, can help folks to lower their overall health care costs.

What are your limits?

The annual limit to HSA contributions is $6,900 for those under 55 years of age. After age 55, you can contribute an extra $1,000 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.

Here is some up-to-date information about HSA funding, according to Healthcare.gov:

“For 2019, if you have an HDHP, you can contribute up to $3,500 for self-only coverage and up to $7,000 for family coverage into an HSA. For 2020, if you have an HDHP, you can contribute up to $3,550 for self-only coverage and up to $7,100 for family coverage into an HSA. HSA funds roll over year to year if you don’t spend them. An HSA may earn interest or other earnings, which are not taxable.

Some health insurance companies offer HSAs for their HDHPs. Check with your company. You can also open an HSA through some banks and other financial institutions.”

Other Options: Flex Spending Account

Now that we’ve covered the possibility of paying with the help of HSAs, let’s talk about another option. If you don’t qualify for a health savings account but are insured through your employer, you may be interested in a Flex Spending Account (FSA). Basically, an FSA account is similar to a health savings account, but it’s a bit more, well, flexible. For one point, 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 currently $2,650 per employee, per year. To learn more about FSAs, learn more at Healthcare.gov’s dedicated page.

Using Health Savings to Find the Best Online Testing Service Prices

HSA: Once you establish an HSA account, you need to go through a few 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 testing is complete, you will need to gather relevant information about the medical expenses so you can submit the receipt as proof that the intended funds were used for a medical, dental or health testing.

FSA: As we’ve mentioned above, using this kind of account is a little different than using your HSA. With an FSA, you will have to pay for the medical expenses up front. Upon purchase, you’ll need to send proof of the medical expense to your employer. Following this, your employer will file a claim on your behalf to be reimbursed for the expense through your Flex Spending Account. Obviously, submitting the receipt sacrifices a bit of privacy. That said, it can be tremendously helpful for anyone looking to lower health care costs.

Testing with myLAB Box

Keeping all of these payment options in mind, testing for sexually transmitted infections can be quite expensive when administered at a doctor’s office. And as we’ve seen, there’s a risk to your privacy as well.  Fortunately, there’s an affordable alternative to this not-so-ideal clinic testing process. Paying out-of-pocket is only a hassle when they are charging an arm and a leg or you have significant unexpected expenses. With myLAB Box, home testing kits are about half of the out-of-pocket price you would find at most clinics.

STD Testing Near Me?

While we’re discussing the benefits of paying out-of-pocket, there is another reason to choose at-home STD testing from myLAB Box: convenience. Beyond pricing, it’s a massive relief for any person who dreads walking into a clinic. With at-home testing, you can test any time and from any place. This freedom makes getting tested far less stressful.

If you are sexually active, it is important to take care of your sexual health and get tested on a regular basis. At myLAB Box, we have the right test to fit your needs and maintain your health.

In fact, you can test for all of the most common infections from the comfort of home. 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.