Can you use fsa for cosmetic surgery

What do breast augmentation, liposuction, tummy tucks, rhinoplasty and eyelid surgery have in common? They are the top five cosmetic surgery procedures among women. And, did you know that a little over 1 million cosmetic procedures were performed on men in ? Cosmetic surgery is more popular than you might realize. According to statista. Because plastic surgery is typically not used to treat a medical condition, it is not considered an FSA eligible expense. Any changes to appearance without a valid medical reason are not reimbursable.

But, what else can you use your HSA money for? Did you know you can use your health savings dollars for cosmetic procedures — such as liposuction and fat transfers from Innovations Medical? A health savings account, also known as an HSA, is a medical savings account for individuals with high-deductible health plans. Money deposited into health savings accounts is not subject to federal income tax and can be used to pay for health insurance deductible expenses and to cover qualified medical costs.

Users may also elect to spend their HSA funds on procedures not covered by health insurance, such as dental and vision care or cosmetic treatments.

Each procedure has its own benefits and recovery time. You should also note that you can only use your HSA on cosmetic procedures that are necessary to improve a deformity from a congenital abnormality, a personal injury resulting from an accident or trauma, or a disfiguring disease.

Now is your chance to get rid of stubborn fat forever. Check with your individual plan to see what it may be applied to.

You may also use FSA funds to cover over-the-counter medications if those medications have been prescribed by a doctor. So, for example, if your doctor writes you a prescription for fexofenadine for allergies, you can walk into your local discount store and use your FSA card to pay for a bottle of that medication, provided you submit that prescription to your plan.

This is where it gets a little complicated. First, it depends on the plan you have. Although you can use your health-care FSA for almost any health-related expenses that aren't covered by insurance, including deductibles and co-payments, at this late date you'll want to concentrate on stocking your medicine cabinet, scheduling routine dental and eye exams, and updating eyeglasses, contact lenses and prescription sunglasses.

Generally, medically necessary costs qualify. Cosmetic procedures do not. So Lasik eye surgery is covered by an FSA. Liposuction is not. Yes to dental crowns; no to teeth whitening. Having leftover funds from last year can have some advantages. The key is to incur the cost before March Most plans will you allow you an additional few weeks to submit your reimbursement request. Check with your plan administrator for claims processing details and deadlines.

You can apply the same double-up strategy when you're estimating how much to set aside for health-care expenses next year. If, for example, you anticipate an expensive dental procedure early next year, you could combine leftover funds with FSA money to cover the entire out-of-pocket cost.