馃攳
How to Accept Health Savings Accounts in Private Practice (HSA) and Why You Should do it - YouTube
Channel: unknown
[0]
Though at any given time about a third
to half of my private practice clients
[4]
pay for counseling using a health
savings account, I'm always surprised to
[8]
find how many of my fellow clinicians
don't realize how super easy it is to
[12]
accept payment in this form and still
receive your full fee. In this video I'm
[18]
going to go over why you need to accept
payments through HSA accounts and show
[22]
you how to do it.
[27]
Welcome to Private Practice Skills.
I'm Dr. Marie Fang, psychologist in
[32]
private practice. I post videos offering
tools I learned the hard way about
[35]
starting and growing private practice so
that you don't have to. You guys, in case
[40]
you didn't notice already I think health
savings accounts or HSAs are the
[44]
bomb.com. But I'm not going to be super
great at explaining what HSAs are so
[49]
I'm going to link to a brief video that
does a much better job than I can
[52]
explaining what they are. You can watch
it somewhere over here or find it in the
[57]
description box. In short,
HSAs are savings accounts that allow
[62]
individuals to set money aside tax-free
that can be used exclusively for medical
[68]
expenses not covered by insurance. So
this can cover things like chiropractor
[73]
bills, prescriptions, glasses, and yes,
mental health care! This means that for
[79]
clients with health savings accounts
they can pay for some or all of their
[83]
therapy tax-free. And if you've looked at
your taxes lately, that saves you a bunch
[89]
of money! If this is coming across like
it just sounds too good to be true, don't
[93]
worry, I felt the exact same way when I
first learned about it. But it's one
[97]
hundred percent true and it's really
easy to accept payments through a
[100]
client's HSA. There are two primary ways
that a client can apply money from their
[105]
HSA to pay for therapy: First, the
old-fashioned way. You see a client for
[109]
therapy, they pay you your fee
out-of-pocket directly, you offer them a
[113]
detailed receipt, and they submit that
receipt to their HSA for reimbursement.
[118]
Snd number two: the 21st century way
where you just swipe their HSA card
[123]
straight through your credit card reader.
Now I feel strongly that there's no
[128]
reason why all therapists shouldn't be
charging credit cards when you're
[131]
working in private practice. I mean,
imagine if you're at the grocery store,
[134]
you fill up your shopping cart, you make
it to the checkout line, only to find
[138]
that they only accept cash or check. I
mean, what an outrage, right? I feel the
[145]
same way about therapy. However, I realize
that the majority of my friends and
[149]
colleagues who are therapists in
private practice don't accept credit
[152]
cards so I will save the rest of my
credit card rent for another day. Since
[157]
many of you fellow clinicians out there
watching likely also don't accept credit
[161]
cards, I will oblige to explaining how to
get reimbursement through HSA the
[165]
old-fashioned way. This process is really
similar to how your client can apply for
[170]
out-of-network insurance benefits. So
your client pays your full fee
[173]
out-of-pocket, you offer them a detailed
superbill receipt, and they submit that
[179]
receipt to insurance for any
reimbursement they might receive. The
[182]
same thing happens for HSA accounts.
Some day I'll do an entire video just on
[187]
superbill receipts. If you're not
familiar with what a super bill is, it's
[191]
essentially a detailed receipt including
your NPI number, tax ID number, your
[197]
client's name, date of birth, date of
service, CPT code, and the amount your
[201]
client has paid. Now most health savings
accounts don't actually require this
[206]
amount of detail on their receipt,
however I've come upon some snags where
[210]
a few HSA providers really did expect
all of this information so it's better
[215]
to just go ahead and fill out the
detailed receipt rather than needing to
[218]
send something to your client again. One
note is that if a client is submitting
[222]
for HSA reimbursement
I don't include their diagnosis code on
[226]
the receipt. And the reason for that is
because first of all, HSA really doesn't
[231]
need their diagnosis for reimbursement,
and that is just such personal protected
[235]
health information. Though this
old-fashioned strategy totally works and
[239]
is completely worth offering to your
clients rather than nothing, I'm going to
[242]
show you a much better way that is much
easier to use. Most clients with an HSA
[247]
or FSA account receive a debit card with
the account or they're able to request
[252]
one. Now this card only works with
approved healthcare providers so that
[256]
they can't just charge that card any old
place. The good news is, therapists are
[260]
approved providers. Sometimes you just
need to do a little bit of work on the
[263]
back end with your credit card service
in order to
[266]
show that you are who you say you are. I
use square, which I love. This is not
[270]
sponsored at all, I've just used square
for the last four years since I've
[274]
gotten licensed and I love it. All you
have to do in order to get HSA approval
[279]
through square is when you go through
the signup process, just be sure to mark
[283]
yourself in either the "medical services"
category or the "medical practitioner"
[287]
category and then you'll automatically
be approved to swipe those HSA cards
[292]
through your app. If you somehow selected
a different category when you signed up
[296]
with square, you can still address the
issue. Simply contact square and they
[300]
should be able to fix the issue within
24 hours. I actually had this issue when
[304]
I first signed up with square because I
was a little confused what category I
[307]
was supposed to mark myself as and
square fixed it really quickly. Just to
[311]
demonstrate how easy it is to charge
your client's HSA card, here is a
[315]
dramatization of it in action:
[322]
I used this card because, you know, credit
card fraud. Of course, not every client
[333]
has an affiliated magstripe card with
their HSA account or they may simply
[337]
prefer to receive a superbill, so it's
helpful to keep the superbill option
[341]
available just in case your client
prefers it. Just as an FYI, although I've
[345]
primarily spoken about health savings
accounts in this video, pretty much
[349]
everything about what I said also
applies to Flex spending accounts as well.
[353]
Hopefully this video has encouraged you
to start accepting HSA payments if you
[357]
haven't been doing so already. Until next
time, from one therapist to another, I
[362]
wish you well. If you like this video
don't forget to subscribe for more
[365]
videos like this one, or watch another
video over here.
[371]
Pick one to do, yeah yeah!
Most Recent Videos:
You can go back to the homepage right here: Homepage