Paying for Hearing Aids: Tax Breaks from Uncle SamHealth Savings Accounts and Flexible Spending Arrangements WRITTEN BY Cary W. Tucker CFP® CERTIFIED FINANCIAL PLANNER™
30 August 2019 Hearing aids can be expensive. Not only do hearing aids typically cost thousands of dollars, but many health insurance plans, including Medicare, do not provide any coverage for hearing aids at all. Many people forego hearing aids because of the high cost and the unfortunate lack of insurance coverage. Yet, when left untreated, hearing loss can lead to social isolation and a diminished quality of life. Check out these topics in the article from Hearing Tracker. Using the standard medical expense deduction How to deduct the entire cost of your hearing aids Eligibility requirements for Health Savings Accounts Limits on annual contributions Differences between HSA and FSA plans Grace periods and carryovers
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