The end of 2018 is near. For many of us, hard-earned dollars are still sitting in our designated health savings (HSA) or flexible spending (FSA) accounts. It’s time to review our finances. It’s time to use – rather than lose - that money. Medical WeightLoss Clinic can help you do so in a way that promotes good health for years to come.
Jordan Stewart, business support analyst for Medical Weight Loss Clinic, sees first-hand the benefits of achieving and maintaining a healthy weight.
“The cost of a weight loss program for treating obesity may be a reimbursable expense under certain FSA and HSA plans,” she says. “Medical Weight Loss Clinic is a great place to consider spending those funds if you’re looking to lose weight.
“Many plan administrators consider Medical Weight Loss Clinic programs to be an eligible expense, and patients may be eligible to receive partial or full reimbursement for the cost of an MWLC program.”
These savings accounts are often valid for one year – making December an ideal time to review the benefits, eligibility or just to plan for future use. Flexible Savings Accounts may require those enrolled to use the money saved within one year while Health Savings Accounts often allow the money to roll over into a new year. It’s worth a look at the guidelines, even if you aren’t ready to commit to a program.
“Patients can even enroll now, and start a program with Medical Weight Loss Clinic after the first of the year,” Stewart says. “If they aren’t ready to tackle those NewYear’s resolutions yet, we’ll hold the program!”
Stewart works with these savings programs regularly and says thousands of Medical Weight Loss Clinic patients have benefitted from using them. She compares FSA and HSA to personal savings accounts – with one important restriction. “The funds in these accounts can only be spent on qualifying medical expenses,” she says.
Wondering how to get started? Employees with access to FSA or HSA accounts through an employer must first determine the amount they plan to contribute to their own account. Then, funds are deposited into the account on a pre-tax basis. The money can be used for various health and medical related expenses.
Every individual’s plan differs and Stewart suggests that patients check with his or her own plan administrator first to see if they are eligible to use the money for weight loss services. No guarantees apply to every plan. But it’s worth a look.
“If an individual’s plan covers weight loss services, he or she should enroll in a Medical Weight Loss Clinic program and work with our Clinic staff to submit a request for flex documentation,” says Stewart. “From there, our staff will produce a letter detailing the patient’s purchases, as well as a statement of medical necessity.”
It’s worth the effort.
“This can create significant savings for an individual looking to start a weight loss program,” Stewart adds.
Ready to focus on your own health? Want to learn more about it? Contact Medical Weight Loss Clinic today! Book your free consultation here or call us at 248-353-8446.