While insurance may cover a portion of your child’s braces, most providers won’t cover braces for adults at all. It doesn’t help that providers have yearly and lifetime spending limits.
For this reason, all or a portion of the cost of braces may fall on your shoulders. If you don’t have a few thousand lying around, you may find yourself in a bit of a lurch, searching for a solution.
Is your Health Savings Account (HSA) an option? At Havens Orthodontics, we’d like to take this opportunity to explain whether there’s HSA coverage for orthodontics.
HSA plans explained
A Health Savings Account is a tax-exempt savings plan into which you place money for medical expenses, including copayments, deductibles, and certain other medical expenses.
This type of savings plan is only for individuals with a high deductible health plan (HDHP), which has a higher-than-average deductible than standard plans.
As of 2023, you may place $3,850 annually in your HSA for an individual plan and $7,750 for a family account, and the funds roll over from one year to another.
Considering the average cost of braces is between $3,000 and $7,000, this money could easily cover some or ALL of the out-of-pocket expenses. However, that still leaves the question, “Can you use HSA coverage for orthodontics?”
HSA coverage and orthodontics
You can use money from your HSA to cover orthodontic dental services, including braces and Invisalign.
We must note that funds in your HSA are for medically necessary treatments only. So, you must need orthodontic treatment to either correct an issue with speech, chewing, etc., or as part of preventative care to use the money. You also may have fewer treatment options because only some may be covered.
You may withdraw the money from the account for cosmetic dental expenses, but you must pay a 20% penalty, and the money is subject to income tax.
Before you touch your HSA funds, though, we recommend you research your insurance coverage first, including the extent of it and any limitations on it.
Your next step — schedule a consultation at our orthodontic practice. At this point, we’ll talk about your goals, examine your teeth and jaw, and explain your options. We’ll discuss the prices of different treatments and ask if you have any preferences, such as lingual or clear aligners, for a more discreet look.
During your consultation, we’ll explain the estimated timeline of each and other information to help you make an informed decision. You’ll also receive a quote for the total price of the treatment.
At this point, it’s possible to determine your financial responsibility after insurance. You can then speak with your HSA provider and determine what they cover and how much.
Still Have Out-of-Pocket Expenses After HSA?
Unfortunately, you could still fall short even with an HSA and insurance. We don’t want finances to stand in your way of improving your speech or boosting your confidence.
So, if you’re struggling with the expense of orthodontic care for you or your child, we encourage you to let us know.
We’ll help you find solutions, such as choosing another orthodontic treatment that insurance covers or one in your price range. We can also talk about other options for covering the expenses.
Are you ready for a better smile, or do you have a child who needs braces? Then, contact us today for a consultation! We work with patients so they can find budget-friendly solutions to achieve better oral health and a gorgeous smile!
We even accept text messages to 855-959-4430!
We have eight locations in the suburbs of Detroit, including Clarkston, St. Clair Shores, Washington, Romeo, Imlay City, Clawson, Farmington, and Canton, MI. That makes us a convenient location for those in Rochester, Rochester Hills, Sterling Heights, Troy, and Mount Clemens.