Why You Must Take HSA’s (Health Saving Accounts) in Private Practice
Today we are going to show you why and how to accept a HSA’s (health savings account) in private practice.
The account has interest rates that allow money to grow while sitting in the account. The money in the account can only be used for healthcare expenses, and yes, that means mental health care.
Even better, the whole thing is tax-free.
I know you’re thinking about how much you paid in taxes last year…
How could you have possibly missed out on this?
Many therapists don’t even realize that this is an option, which is crazy! So let’s get you set up!
There are two ways you can accept HSA’s in private practice.
One is the old archaic way, which I will walk you through, and the other is the 21st century way.
That 21st century way? Yeah, it’s literally swiping the HSA card on your credit card reader.
You just need to make sure that you have marked yourself in the medical services category so you can accept HSA cards. Then swipe the card and that’s it.
How modern of you…
Now if you don’t accept credit cards, which I know could not possibly be true, you can do it the old fashioned way, which is basically the same thing as superbills.
The client will pay for the session out of pocket. You just use that receipt that you would give if it was a superbill but leave the diagnosis part blank because that is classified information and you don’t want that just floating around. The client will then turn this bill into their HSA and they will get reimbursed for the session.
Now you know how to accept HSA’s in private practice.
Check out this blog on starting a private practice on the low low.
Leave us comments on how much this video helped you set up HSA payments.
