Can I use my HSA/FSA/HRA insurance benefits for Physical Therapy?

YES, you can!

This post details information about the many options offered by insurance companies through your employer. Keep in mind these benefits are time sensitive meaning you can lose your allotment if not taken advantage of by the end of the year.

Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs) can be great cost-savings tools. You can use them to reimburse yourself for eligible health care, dental, and dependent care expenses. But it's important to know which expenses can be reimbursed.

It's also important to keep a record of the expenses you pay with your HSA, HRA, or FSA in case your health insurance company asks you to prove that an expense was eligible for reimbursement from your account, or in case you are audited by the IRS. Examples of records you should keep include: receipts, Explanation of Benefits (EOB), medical diagnosis/physician diagnosis letters, and prescriptions.

The type of account you have may determine whose costs are covered and which costs are eligible. Below is a list of some of the options:

HSA - You can use your HSA to pay for eligible health care, dental, and vision expenses for yourself, your spouse, or eligible dependents (children, siblings, parents, and others who are considered an exemption under Section 152 of the tax code).

HRA - You can use your HRA to pay for eligible medical, dental, or vision expenses for yourself or your dependents enrolled in the HRA. Your employer determines which health care expenses are eligible under your HRA. Refer to your plan documents for more details.

Health Care FSA - You can use your health care FSA to pay yourself back for eligible health care, vision, and dental expenses for yourself, your spouse, or eligible dependents (children, siblings, parents, and other dependents as defined in your plan documents)

Please note that the list is subject to change based on regulations, revenue rulings, and case law. The list is intended only as a general guideline for covered expenses. All items on the list may be subject to further restriction. An employer may limit which expenses are allowable under their FSA or HRA plan offering. Your company's HR department can answer any questions.

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