Wondering about healthcare expenses and payment options? We’ve got you covered.

Sometimes with all the acronyms in healthcare and insurance, it’s hard to know what’s what. And, for anyone wondering about the differences between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) and the benefits of each, it’s great to have some clarity. So let’s get started!  

First things first: Both HSAs and FSAs are pre-tax accounts, and both can be used to pay for healthcare-related expenses. 

Okay, so what’s an HSA and what’s an FSA? 

Commonly known as an HSA, a health savings account enables individuals to save and earmark funds to pay for certain eligible medical expenses. What makes an HSA unique is that you own it. You must have a high-deductible health plan (HDHP) in order to have an HSA, and you can only cover expenses with funds you’ve already saved—as an HSA offers no extension of “credit” like you have with an FSA. When funding your HSA, you’ll need to be familiar with the contribution guidelines and limits, which are established by the IRS. Take a look online for current-year information. 

An FSA—a flexible spending account—is a little different. Though it is also a tax-exempt account used to pay for eligible medical expenses, an FSA is provided by your employer, who owns it, so if you leave your position you won’t be taking the account with you. An FSA is funded only by you and your employer, and at the end of the year any unused funds revert back to your employer. That’s why people call this a “use-it-or-lose-it” fund. This kind of account works a little like a credit card in that you can purchase items early on in the year, before you have the funds in the account, provided any purchase doesn’t exceed your planned total annual contribution.  

Using your HSA or FSA to purchase the Aria Free™ system. 

Some HSA/FSA agreements can help you pay for pneumatic compression devices. Here’s how it all works: 

  • Step 1: Verify that your HSA/FSA agreement covers pneumatic compression devices. 
  • Step 2: Purchase the Aria Free system at our online store. 
  • Step 3: Receive your personalized receipt. 
  • Step 4: Upload the receipt to your HSA or submit the receipt as required by your employer or insurance company in order to receive your reimbursement. 

Lastly, what about insurance? Is the Aria Free system covered by insurance or Medicare? 

Pneumatic compression devices like Aria Free are covered by most health insurance plans. Contact us at 866.647.0691 to find out if we can bill your provider.   

Now that you’ve got a little more info on HSA/FSA options, start shopping for your pump at the Aria Free store. 

As always, we think you’ll love the Aria Free system, but if you don’t, you can always return it to us within 30 days—for free. That’s our guarantee. It’s also a great idea to speak with your healthcare provider and your health insurance company for specific details that would impact your health and your finances. 

Resources 
IRS info 
Info from Forbes 
HSA/FSA details from Healthcare.org 
Nerd Wallet on the topic