By using a Health Spending Account for small business, you can write off your medical expenses, get 100% coverage, and instant online claims. Have your small business pay for your chiropractic, massage therapy, and physiotherapy expenses and save up to 30% on your costs.
A Health Spending Account gives you the opportunity to have your business cover the costs involved with ongoing chiropractic treatment and visits to other medical practitioners. In many situations, traditional insurance plans will place annual limits (often $300 - $400 annually) on chiropractic and massage treatments. The problem with this is that major back problems often come with regular visits to these practitioners, and $300 per year does not cover the cost. With a Health Spending Account, there are no annual limits placed on these practitioners.
At Olympia, we are regularly asked if massage therapy is an eligible expense a Health Spending Account. You can have your business pay for 100% of your massage therapy — and receive the benefit completely tax-free!
Insurance companies will typically cover a small portion of massage therapy treatments (often under the same restrictions as chiropractic treatments). Any percentage or portions not covered by your insurance plan would be an eligible expense with a Health Spending Account.
| Total cost for chiropractic & massage treatments: | $1,200 |
| Insurance coverage: | $300 |
| Uncovered amount: | $900 (eligible with a Health Spending Account) |
