Using FSA Funds to Pay for Braces

The end of 2023 is rapidly approaching and so is the last day that you can use your Flexible Spending Account (FSA) dollars. Your FSA allows you to set aside tax-free money for qualifying health care expenses for yourself, your spouse and eligible dependents. Typically, with an FSA, you pay money into an account during the year through payroll deductions from your employer, and you can use that money to cover healthcare costs accrued during the same year. This means you have until the end of this year to use your FSA funds. You can use FSA funds to pay for eligible orthodontic treatments, including getting braces for yourself or your children. Here are a few things to keep in mind when using FSA funds to pay for braces.

Eligibility

Your dental insurance may cover some of the costs associated with getting braces. If all of your costs are not paid for by insurance, you can use FSA funds to cover a portion, or all, of those expenses. You will want to call your insurance company and check your FSA guidelines to understand specifically what’s covered. Employers may make contributions to your FSA, but they aren’t required to.

Coverage

The type of products or services that are FSA-eligible depend upon what type of FSA you have. A variety of braces are FSA-eligible, including:

• Silver braces
• Ceramic braces
• Invisalign
• Retainers and appliances

You can also use FSA dollars to pay for other orthodontic products that supplement your treatment, such as:

Orthodontic wax

Heating pads

Pain relievers

FSAs are generally limited to $3,050 per year per employer. If you’re married, your spouse can put up to $3,050 in an FSA with their employer too.

There are even many surprising products that you can buy with an FSA that can help with your orthodontic treatment, such as retainer cleaners. To learn more about what is covered under an FSA, visit the Internal Revenue Service publication on health savings and other tax-favored health plansEditSign.

Savings

You can save an average of 30% by using pre-tax dollars to pay for eligible FSA expenses for you, your spouse, and qualifying children. An FSA doesn’t reduce medical procedure costs, rather the savings are attributed to the ability to use pre-tax dollars. Contributing to an FSA lowers your taxable income, which saves you money in the long run. The most important thing to know about your FSA dollars is that the funds are use-them-or-lose-them. If you do not use the money by the end of the calendar year, that money will no longer be available.

Accessing Funds

Make sure to conduct research about your specific FSA plan to learn about how you can access your funds. Some FSAs offer reimbursement and others have an FSA debit card, which allows you to pay for procedures directly from your FSA account.You can work with your orthodontic practice to obtain the proper paperwork to file for the approval of the claim. Many orthodontic practices, including Bruno Orthodontics, offer a variety of ways to help you pay for orthodontic treatment, including offering financing options and providing the proper documentation to submit to your FSA provider.