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Everything You Need to Know About Using Your FSA or HSA to Pay for Weight Loss Surgery

Sep 23, 2021

using fsa or hsa to pay for weight loss surgery

Did you know that if you have a Flexible Spending Account (FSA), Health Savings Account (HSA) or Health Reimbursement Account (HRA), you can use those funds to pay for weight loss surgery? If you’ve been considering bariatric surgery, but have been concerned about the cost because your insurance doesn’t cover it, or perhaps you have a high deductible, your FSA, HSA or HRA can help cover the expense — and it’s tax free!


FSA, HSA and HRA funds are taken out of your paycheck pretax, so not only will you not pay taxes on those funds used to cover medical expenses like weight loss surgery, but making a contribution to an FSA/HSA/HRA also lowers your taxable income


Changes to FSA for 2021


If your employer offers a flexible spending plan for healthcare expenses, you can use this pre-tax income to pay for a variety of healthcare costs, including weight loss programs and bariatric surgery. The 2021 FSA maximum contribution remains at $2,750.

 

Flexible Spending Accounts are different from Health Savings Accounts in that typically you must use the funds in your account each year, or you will lose them. In previous years, employers were allowed to extend a $500 rollover of FSA funds from one year to the next, or a two-and-a-half month grace period to use the previous year’s FSA dollars (but are not required to offer the rollover or grace period). For 2021, regardless of which type of FSA you have, the Consolidated Appropriations Act — signed into law in December — temporarily allows you to roll over any unused funds. (That is, if your company opts in.)


If you are unsure how your FSA plan is set up, talk to your employer’s human resources department to find out which, if any, extensions apply to you. 


Save Even More at Nicholson Clinic


Nicholson Clinic is dedicated to helping prevent finances from limiting any patient who desires life-changing weight loss surgery. We are proud to offer one of the lowest self-pay prices in town, along with a number of payment options, including cash pay, payment plans and financing for as low as $248/month. 


Few bariatric practices include everything in one low price, from your initial consult to your post-op follow-up visits for life! And our pricing is significantly lower than the national average. (Read more about payments and pricing on our website.)


If you’ve been on the fence about bariatric surgery and you have remaining unused FSA funds, it’s not too late to get scheduled for surgery. Contact us today with any questions or to get the process started. 

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