Cost-Benefit Analysis

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Opting for coverage by a registered health spending account (RHSA) allows employees to choose the benefits that most benefit them. Health insurance covers only a certain number of services, which may not help everyone. Health spending accounts also aid employers financially as they allow them to save money. Instead of needing to pay for typical health benefits, a certain amount of money can be distributed to employees by means of an RHSA, which employees can then use as they please. To remedy fees paid out of your own pocket for any medical treatment or prescription medication, a health spending account is a highly recommended option. A RHSA offers flexibility for employees with health benefits and works to finance health expenses that regular …show more content…

Here are a few more medical expenses that require a prescription for RHSA coverage: 1. Cosmetic Expenses Unfortunately, not all cosmetic procedures are on the registered health spending account list of approved expenses. If the cosmetic surgery has been deemed necessary by a doctor, then it can be covered by a registered health spending account. However, if the procedure is solely the choice of the individual, an HSA will not cover the costs. If a surgery, such as facial reconstruction or implants, breast reduction or reconstruction, rhinoplasty, etc., is a medical requirement as stated by your doctor, the costs can be covered by an RHSA. 2. Acne Medication Products to relieve inflamed skin or skin imperfections, such as creams, toners, and gels, can be prescribed by a doctor or they can be purchased over the counter. Additionally, there are more aggressive treatments for individuals who have trouble with acne. Unfortunately, it is not guaranteed that every product or treatment will be covered by health insurance. In these events, with a prescription, a RHSA can cover the

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