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I am self employed in Ohio and on my husband's insurance. Is there an FSA type account that I can set up? We do not have a High Deductible medical plan so the MSA will not work for me either. I would like to set up something to apply toward orthodontia and haven't found anything that will allow it. Thanks!

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There are four types of tax-advantaged medical expense arrangements described in IRS Publication 969:

  • Health savings accounts (HSAs).
  • Medical savings accounts (Archer MSAs and Medicare Advantage MSAs).
  • Health flexible spending arrangements (FSAs).
  • Health reimbursement arrangements (HRAs).

FSAs and HRAs are employer-sponsored plans only. They are not available to self-employed individuals.

HSAs and Archer MSAs require enrollment in a High Deductible Health Plan (HDHP).

To take advantage of one of these arrangements, you would either need to sign up through an employer (perhaps your husband’s employer, if offered) or you would have to change your health insurance plan to an HSA-eligible HDHP.

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  • "sign up through an employer (perhaps your husband’s employer, if offered) " --- is this possible? I am in the same situation. I would like to save some money for my dental implant.
    – peterB
    Oct 6, 2022 at 22:31
  • @peterB It’s possible. As I said in my answer above, the FSA and HRA are employer sponsored plans, so you would need to talk to your employer to see if either of those is available. The HSA does not directly require your employer’s involvement (although many employers do sponsor them), but it does require enrollment in a specific type of health insurance plan. Any of these could potentially help you save money on dental implants.
    – Ben Miller
    Oct 7, 2022 at 12:00

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