With the pandemic raging on — and flu season just around the corner — employees have plenty to be stressed about. But they might be able to find some relief from their HSA dollars.
Alison Moore, vice president of marketing at HealthSavings — an HSA company — says employees can be tapping into their HSA accounts for support for mental health, sleep issues, and even basic hygiene concerns brought on by the pandemic.
“Mental health is a huge issue right now because of the pandemic, and people may not realize they can use these pre-tax dollars to pay for the things they need,” Moore says. “I’m discovering that there are all these new things I’m dealing with because of the pandemic that I can actually spend HSA dollars on — and I work at an HSA company.”
The average American spends $5,000 out-of-pocket every year for healthcare costs, according to the Bureau of Labor Statistics. Instead, they could use the HSA’s triple tax benefits to lower their costs. During COVID-19, this resource could be crucial to maintaining good health before a second wave or the start of the flu season, Moore says.
“Don’t wait to go to the dentist, the eye doctor, or anything else; go out and get the preventative care you need now before things change and you don’t feel safe going out again,” Moore says.
Check out Moore’s list of HSA-approved services and items employees can use to help de-stress in these uncertain times:
