Flexible spending accounts (FSAs) and health savings accounts (HSAs) can be great ways to save money on healthcare—especially if you’re strategic in how you use the funds. For instance, using these accounts to help make lab tests and health screenings more accessible when you want to be proactive about your health and can be a great way to maximize your benefits.
So how can the funds in your FSA or HSA help you get a handle on your health and routine care? Beyond out-of-pocket healthcare costs like over-the-counter products, prescriptions and copays, you can also use FSAs and HSAs to purchase lab tests and health screenings directly. These tests investigate a wide range of health topics from nutrition and hormone levels - levels to diabetes risk to heart health, liver health, anemia, fertility and food allergies.
Having access to order labs without a doctor means having options. It allows you to be more proactive when it comes to your routine healthcare and monitoring previously diagnosed conditions. It might be a good option for you for some of the following reasons:
- Ease and convenience—Shop for and purchase Labcorp OnDemand tests online, and pay using a credit card or an FSA or HSA debit card. Lab tests for routine health and wellness screening that you purchase directly are not covered by insurance; however, they are FSA and HSA eligible and using those dollars to cover lab tests and health screenings can make the most of your healthcare budget. Once purchased, visit a local Labcorp location for sample collection at any of our over 2,200 locations across the nation. For an at-home test, simply follow the instructions to provide your sample collection in the comfort of your own home. Then safely and securely view your results online in your confidential Labcorp Patient™ Portal. For any results that require prompt attention, you’ll also be contacted by phone or mail.
- High-deductible insurance plans—Self-initiated lab tests aren't covered by insurance and don’t apply to annual deductibles. If you have a high deductible insurance plan, purchasing tests directly using your HSA or FSA funds can be more affordable than going through your provider and being billed. You can always share your results with your healthcare provider.
- Privacy—Purchase your own test for convenience, flexibility and privacy. You can initiate a test prior to seeing a healthcare provider. For example, you want an STD test but would rather just get straight to the results privately before making an appointment to visit your provider.
- Information, Preparation and Empowerment—Being proactive and purchasing lab tests yourself can mean showing up to your next appointment more informed and empowered—and able to ask the right questions to help guide your care.
Whether you choose to catch up on your routine care by visiting a healthcare provider or purchasing your own test through Labcorp OnDemand, we hope you and the people you care about will take every opportunity to make your overall health a priority.
