Does an HSA Cover Alternative Medicine?

A Health Savings Account (HSA) does not reallyof everything you do, up until you hit that "high
cover alternative medicine. However, there is a bitdeductible" each year.
more to it.When you start seeing the real costs of Western
A person using an HSA can withdraw moneymedicine, at that point, alternative medicine might
from this special type of savings account for anystart to look really good.
type of "approved medical expense." ApprovedConsider the following:
by whom? The IRS.A routine doctor visit done before you meet your
So, the IRS pretty much thinks that properdeductible may cost you about $100. That is one
medical expenses are any types of Westernhundred dollars for about a seven-minute visit.
medicine - pharmaceutical drugs, surgery, doctor(HMOs like doctors to have short visits with their
visits, etc.patients.)
However, there are a few things on the list thatNow think about an alternative medical provider.
are alternative medical options. Chiropractors areLet's take a naturopath as an example. A
on the list. So is acupuncture.naturopath may charge about $90 for your first
With acupuncture, it must be consideredvisit. That visit will probably take about an hour
"medically necessary." That means that a doctorand a half.
(MD or DO) must say that he thinks you shouldLet's look at the cost in dollars-per-minute:
see an acupuncturist and write a prescription forThe doctor visit costs $14.28 per minute.
it. Then you can see an acupuncturist and pay forThe naturopath visit costs $1.00 per minute.
it with the money from your HSA.You might think a doctor is better qualified to
But there's one more thing. When you are usingunderstand your health problems, but do you think
an HSA in conjunction with a high-deductible healththey are 14 times better qualified?
insurance policy, you start seeing the "real costs"