December 8th is National Health Savings Account Day

Here is how you can save the most money on medical services Each year on December 8th is designated as National Health Savings Account Day to raise awareness of this Read More

Here is how you can save the most money on medical services

Each year on December 8^th is designated as National Health Savings Account Day to raise awareness of this underutilized resource.

Rising healthcare costs affect everybody, which is why it is important to take advantage of every opportunity to save money on your out-of-pocket medical expenses.

Health Savings Accounts (HSAs) are available to nearly everybody through your insurance provider or employer. Not only do they reduce your taxable income, but you can even earn tax-free interest on the contributions!

As of 2022, the maximum contribution for an individual is $3,650.

Having an HSA also creates a safety net in case you have a medical emergency, or if something happens down the road requires out-of-pocket spending.

HSAs can be used for a variety of services, including pharmacy, dental, vision, hearing aids, and more.

However, in recent years the increased popularity of regenerative treatments to optimize health and wellness highlights the value of an HSA.

These may include therapies like hormone replacement, peptides, weight loss, IV vitamin infusions, and more.

As an example, an individual living in Texas earning $75,000/year and spending $200/mo on regenerative therapy would save $528/year running those charges through an HSA.¹

^{[See your tax savings, click here]}

Many people have figured out that they can keep their medical costs at a minimum by enrolling in a high-deductible plan to be used for basic services or in case of an emergency. Then use an HSA to cover the regenerative services to optimize their health.

Plus, HSA contributions come straight out of your paycheck, so don’t feel the pain of the out-of-pocket expenses.

If you don’t already have an HSA, now is a great time to inquire with your employer or insurance provider to see what options they offer.

About Alpha Advantage

At Alpha Advantage, many of our members use HSAs to minimize their medical costs.

If you are looking to raise your performance in 2023, schedule a consultation and we can customize treatment plans to help you achieve your health goals, and also show you how to make them affordable.