An FSA is a tax-free account where you put aside a certain amount of money to help pay for any out-of-pocket health-related expenses. When you get your health insurance through an employer, you usually have a Flexible Spending Account option. "The payoff for a little time and effort can improve your overall quality of life," he says. Orefice recommends thoroughly researching each plan's coverage because there may be unique benefits you automatically thought would be out-of-pocket costs. Putting in the effort to sift through various insurance plans can make a difference in helping you get closer to achieving your health goals. "Be sure you review your current health insurance plan to see what self-care perks are available to you, but if you are not satisfied with these benefits, be sure to shop for a policy that better fits your needs," he advised.Īdditionally, don't automatically assume that your insurance won't cover the cost of a specific benefit. In the case of gym memberships, Orefice said your health insurance most likely won't foot the whole bill, but your health plan may qualify you for reduced rates for gym memberships, fitness gear and even online classes. The only thing you may be limited to is seeking treatment within your network, and there may be a cap on the number of treatments you receive per year. These could include massage therapy and acupuncture along with other services. You'd be surprised at the broad range of complimentary benefits your insurance may provide. "If certain self-care perks are not specifically listed as covered or excluded benefits, ask your provider for more information," he suggests. Michael Orefice, senior vice president of Operations at SmartFinancial, told CNET the SBC outlines each health plan's costs and coverage. Whether you have health insurance or you're shopping around for the right package, make sure you read the summary of benefits and coverage (also known as SBC).
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