Our insurance policy.
We are currently unable to accept health insurance. Although some of our services are covered by certain plans, most are not. Even when our services are covered, there is typically a significant limit as how many visits will be covered and at what rate. Furthermore, as practitioners of Complimentary and Alternative Medicine our services are much more likely to be denied as unnecessary. From an administrative standpoint accepting insurance is also not feasible for us. For an office our size we would have to hire an additional full-time staff member just to process the paperwork! Unfortunately, adding such an enormous expense to our overhead would require us to raise our rates beyond the range of affordability.
We sincerely hope that health insurance policies will change in the future and see a general trend in that direction. More policy holders are asking for the inclusion of a wider range of services and the insurance companies are listening. We encourage our patients to speak with their insurance companies about the types of services they would like to see covered.
As an alternative to standard medical insurance we advocate for Health Savings Accounts (HSAs). HSAs are tax-advantage medical savings accounts available to taxpayers who are enrolled in a High Deductible Health Plan (HDHPs, a.k.a. catastrophic insurance). The funds contributed to the account are not subject to federal income tax at the time of deposit. Funds may be used to pay for qualified medical expenses at any time without federal tax liability. For a partial list of qualified medical expenses please go to www.irs.gov and review publication #502. The following text is from the US Department of the Treasury website http://www.treas.gov/offices/public-affairs/hsa/ Please see their website for more information.
What is a Health Savings Account (HSA)?
HSAs were created by the Medicare bill signed by President Bush on December 8, 2003. They are an alternative to traditional health insurance and enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis. You must have a HDHP if you wish to open a HSA. You own and you control the money in your HSA and decisions on how to spend the money are made by you without relying on a third party or a health insurer.
How can I get a Health Savings Account?
You can sign up for HSAs directly with banks, credit unions, insurance companies and other approved companies. Your employer may also set up a plan for you as well.
How much does an Health Savings Account cost?
An HSA is not something you purchase and cost nothing. An HSA is a savings account into which you can deposit money on a tax-preferred basis. The only thing you need to purchase is a HDHP, an inexpensive plan that will cover you should your medical expenses exceed the funds you have in your HSA.
Who is eligible for a Health Savings Account?
To be eligible for a Health Savings Account, an individual must be covered by a HSA-qualified HDHP and must not be covered by other health insurance that is not catastrophic. Certain types of insurance are not considered “health insurance” (see below) and will not jeopardize your eligibility for an HSA.
Can I get an HSA even if I have other insurance that pays medical bills?
You are only allowed to have automobile, dental, vision, disability and long-term care insurance at the same time as a HDHP. Wellness programs offered by your employer are also permitted if they do not pay significant medical benefits.
Does an HSA pay for the same things that regular insurance pays for?
HSA funds can pay for any “qualified medical expense,” even if the expense is not covered by your HDHP. For example, most health insurance does not cover the cost of over-the-counter medicines, but HSAs can. If the money from the HSA is used for qualified medical expenses, then the money spent is tax-free.
