Many people are choosing alternative healthcare choices like concierge medicine as healthcare expenses continue to rise. Concierge medicine, often referred to as boutique medicine or tailored healthcare, is a form of medical care in which consumers pay an annual fee in exchange for individualized medical attention from a primary care physician.
Whether or not concierge treatment may be paid for with a Health Savings Account (HSA) is one of the most frequent queries people have. The type of concierge medicine plan you have will determine the response, which is not always clear-cut.
Plans for concierge medicine come in two flavors: fee-for-service and retainer-based. In a fee-for-service arrangement, the patient must pay for each service received, but in a retainer-based arrangement, the patient must pay an annual fee in exchange for unrestricted access to their doctor. You can use your HSA to pay for the services provided if you have a fee-for-service plan. You cannot use your HSA to pay the yearly fee if you have a retainer-based plan, though.
Some concierge medicine providers also provide services for lifestyle management in addition to providing individualized medical care. Lifestyle managers are experts who help patients with a range of duties, including making appointments, planning trips, and managing domestic chores. These services are often not covered by insurance, therefore an HSA cannot be used to pay for them.
Let’s now address some other frequently asked queries concerning concierge medicine. Do you know how to say concierge? Concierge is pronounced with a g, yes. What is concierge’s polar opposite? Self-service is often thought of as concierge’s antithesis. What is a sentence example for concierge? To get my doctor to give me more individualized treatment, I changed to a concierge medical plan.
In conclusion, the kind of plan you have will determine whether or not you can use an HSA to pay for concierge medical. Retainer-based plans cannot be paid for with an HSA, but fee-for-service plans can. Additionally, because concierge medicine providers’ lifestyle management services aren’t frequently covered by insurance, they cannot be paid for with an HSA.