Health Savings Accounts (HSA) are like personal savings accounts, but the money in them is used only for health care expenses, like deductibles and copays. Since the money you choose to deposit into your HSA is not taxed, and you (not your employer) control the account within the rules set up by the government, using your HSA dollars for therapeutic massage can mean big savings for you!
- We use Merchant Classification Code (MCC) 8099 ‘Medical Services and Health Practitioners, Not Elsewhere Classified.’
- HSA/FSA cards may have restrictions as to what Merchant Classification Codes are accepted. If your card is not covered under MCC 8099, please contact your card issuer in order to determine the options moving forward, as coverage is dependent upon the specific HSA/FSA plan.
Health Savings Accounts were created to benefit you, the consumer, as a way to help control health care costs. It’s your money, saved just for health care purposes, so you will know how to spend it most wisely. Your HSA savings roll over from year to year, so you can’t lose the value of your deposits, even if you over-estimate what you will need in a given year. Also, HSAs provide doctors and other health care providers with an incentive to keep rates low because they’re competing for your business.
If you’d like to use HSA funds for therapeutic massage, PalmLeaf Massage Clinic can provide you with a receipt with appropriate information for your records. If you don’t have an HSA now, check your eligibility online through the US Department of Treasury or talk to your tax advisor.