WE ACCEPT HSA AND FSA ACCOUNTS

As an Allied Healthcare Provider, we provide coverage for all of our services and products using your HSA with absolutely no hassle! Simply use your card like any payment card. Use your HSA debit card right at the merchant terminal!

For FSA holders, it’s a bit more complex as you also need to provide a coded invoice to your carrier to satisfy regulatory requirements. No problem! After payment, we will prepare a special coded invoice for you at no charge. However, we cannot include a tip in this invoice.

Also be aware that while you can use your FSA card today directly with the merchant terminal, you cannot have the bill show a tip. Also if you become a member after May 15, 2024, you likely have to use your own personal card, and then apply for reimbursement.

USE YOUR HSA OR FSA & SAVE UP TO 40%!

WHAT IS AN HSA ACCOUNT?

An HSA, or Health Savings Account, serves as a savings vehicle designed to cover out-of-pocket medical expenses that aren't covered by insurance. These expenses can include doctor visits, prescriptions, over-the-counter medicine, lab tests, and hospital stays.

It's important to note that HSA funds should only be utilized for qualified health care expenses. Otherwise, any distribution for other purposes incurs taxation at ordinary rates. Everything that Thai Sport offers in services and products are HSA qualified.

Contributions to your HSA can either be tax-deductible, akin to deductible IRA contributions, or made pre-tax, similar to 401(k) contributions provided through an employer's benefit plan. Furthermore, earnings within the HSA remain untaxed, and distributions used for qualified medical expenses are exempt from taxation.

HSA BENEFITS

  • There is no waiting period before you can start making tax-free distributions, unlike Roth IRAs.

  • You may qualify for a one-time rollover of IRA or unused FSA funds to bolster your HSA.

  • High deductible health plan (HDHP) premiums are often substantially lower than those of other common plans, potentially freeing up extra funds to cover the HDHP deductible and contribute to the HSA.

  • Employers may provide partial or full funding for your HSA, with these contributions being tax-exempt.

WHAT IS AN FSA ACCOUNT?

A flexible spending account, also known as a flexible spending arrangement, serves as a dedicated savings vehicle aimed at helping workers save on projected healthcare expenses. These accounts allow employees and/or employers to allocate funds specifically for covering anticipated out-of-pocket medical costs incurred by the employee throughout the year.

Contributions to FSAs are deducted from an employee's earnings, thereby exempting them from payroll or income taxes. Disbursements from an FSA are earmarked for reimbursing employees for qualified expenses, typically encompassing medical, dental, or vision services. However, any remaining funds at the end of the plan year or the designated grace period are forfeited by the employee.

Most FSA providers will accept services and products from Thai Sport. You must request a special medically coded statement from us to provide to them in order for it to be approved. To date we have had a 95% success rate with FSA.

FSA BENEFITS

  • You have the option to exclude employer contributions from your gross income, and these contributions are not subject to employment or federal income taxes.

  • Withdrawals may be tax-free if used to cover qualified medical expenses.

  • You can withdraw funds from the account to pay for qualified medical expenses, even if you haven't yet contributed funds to the account.