So-called “alternative medicine” – chiropractics, naturopathy, acupuncture and the like – may be getting too big to be called “alternative” anymore. According to the Center for Disease Control’s National Center for Health Statistics, Americans spend approximately $34 billion out-of-pocket each year on those alternative healing practices. That’s about one-third of what we spend on prescription drugs – but nonetheless, most health insurance companies don’t cover alternative health medicine. There are ways to stretch alternative medicine dollars, however, and most importantly, the overall picture may eventually change if the health care bill before Congress passes with a key provision intact.
Insurance Policy Coverage
One of the first places you should begin your quest for affordable, alternative health medicine and alternative healing is your health insurance policy. Currently, health insurance operates on a state-by-state basis, and since each state requires that different medical practices be covered by insurance providers, you may discover that your plan actually does cover alternative medicine practices. California, for example, mandates that health insurance providers cover both chiropractic and acupuncture treatment. Of course, your health insurance provider might cover alternative health practices and treatments even if your state doesn’t require it. Consequently, if you’re not clear on what your plan covers, call and speak with a provider representative. Another important call would be to your state’s insurance department to learn what’s mandated at that level. Be sure to make these calls before you get massage or acupuncture therapy if you’re not sure how you’re going to pay for it.
HSA’s and FSA’s
Two popular savings plans might be ways to get alternative medical bills covered. Known as Health Savings Accounts (HSAs) or Flexible Savings Accounts (FSAs), these accounts take pretax money out of your paycheck and set it aside for medical expenses not covered by your health insurance plan. Depending on where you live and the language of your specific FSA or HSA plan, you may discover that you can be reimbursed for alternative medical expenses. Another tax-related way to save money on alternative medicine costs is to claim them as deductions on your yearly income tax form. To determine what the IRS considers deductible and what isn’t, be sure to check with their website.
Of course, trying to work out a payment plan with an alternative medicine practitioner is always an option, as is asking about the possibility of a sliding-scale fee system.
How have you been able to get your alternative treatments covered?
Similar Posts:
- Best Ways to Save on Health Care Resource Center
- Best Ways to Save on Prescription Drugs
- Medicare – Health Coverage for the Aged and Disabled
- You Can Get That Nose Job Covered, Here’s How
- Will Health Insurance Plans Increase Rates After Reform?
0 Comments.