As you consider your next mobility device from Pride® Mobility, be it a power wheelchair, mobility scooter, or power lift recliner, you may be wondering about payment options available to you like HSA or FSA.
For many Pride products, Medicare or private insurance may cover a portion or all of the cost. There are also many products that are not eligible for Medicare reimbursement. In any case, there are additional options that can help you offset the cost, provided they are deemed for qualified medical expenses.
What are HSA and FSA?
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are both designed to ensure you have pre-tax money set aside to cover health care costs. They’re typically offered by employers and while similar, they differ in a few ways.
An HSA allows you to carry over 100% of your unused funds from year to year. So as your account grows, you’re not obligated to spend it all within the calendar year. On the other hand, with an FSA, you must use the funds within the benefit year.
FSAs are also only available through your employer, whereas you may be able to open an HSA on your own. However, with an FSA, 100% of your elected amount is available as soon as the benefit year begins, while you build funds within an HSA.
Either way, both are designed to help with qualified medical expenses such as power wheelchairs, mobility scooters, and power lift recliners.
For further information about the similarities and differences between HSAs and FSAs, there are many resources available online, including this breakdown from Fidelity.
Determining the eligibility of mobility products.
We’ve used the term “qualified medical expenses” a couple times now, and what you need to know is that ALL Pride Mobility products fall into that category (as mobility aids under IRS Publication 502) as long as the following conditions are met:
· Prescribed by a physician
· Used to treat, manage, or alleviate a medical condition
If you’re interested in having an HSA/FSA fund cover your expenses for a mobility device, it’s most important that you consult with your doctor or physician. They must determine that
the device is medically necessary, be it a power wheelchair, mobility scooter, or power lift recliner. Replacement parts such as batteries, tires, and controllers may also be eligible.
How to use your HSA/FSA for mobility products.
To use the funds in your HSA or FSA, you must first get a prescription or letter of medical necessity (LMN), which can be acquired through your physician. This documentation is necessary and states that the device you’d like to purchase is medically necessary. This letter should explain:
· The medical condition being treated
· Why the device is necessary for treatment or mobility
· How it supports the patient’s health and well-being
Next, check ahead with your local Pride Mobility provider to ensure that they accept HSA or FSA payments. Once confirmed that the provider is enrolled, use your HSA/FSA debit card at checkout, either in-store or online.
You also have the option to pay for the device in full and then submit for reimbursement. You would need to submit an itemized receipt, your LMN or prescription, and a claim form courtesy of your account provider. It’s important that you maintain all receipts and medical documentation for your records.
Consider CareCredit™ and alternative options.
If you’re seeking another option to help cover expenses for Pride Mobility products, CareCredit™ works like a credit card used primarily for healthcare expenses. Unlike a traditional credit card, there are special financing options available such as no-interest plans if paid within a promotional period.
Through CareCredit, there are affordable monthly payments to make power wheelchairs, mobility scooters, and power lift recliners more accessible with no upfront costs. While it assists with payment for mobility devices, CareCredit can also be used for additional medical, dental, cosmetic, and even veterinary services.
Your local provider may also offer additional plans to help you pay for your mobility device. Always be sure to ask about in-house payment plans or third-party financing programs that you could apply for at the point of sale, either online or in-store. After your credit is assessed by the third party, you may be approved to receive the device immediately and determine a financing plan with the third-party provider.
It’s important to confirm ahead of time with your local Pride Mobility dealer that they accept CareCredit or third-party financing programs.
Pride Mobility is here to help.
You may have additional questions about HSAs, FSAs, and CareCredit, and our team is here to assist. If you’d like more information or clarification on what these accounts are and how they can help you, please reach out to our onshore Consumer Support team at 800-800-4258. You can also reach us by email at info@pridemobility.com. Our authorized dealers that offer these services can also provide guidance on the process to ensure that you have all the necessary information, so we encourage you to reach out to them as well.
HSAs, FSAs, and CareCredit can help you rediscover your independence and freedom! Contact your authorized Pride Mobility provider today.