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Fiscal Fitness: Tracking your healthcare spending with Paytient
Fiscal Fitness: Tracking your healthcare spending with Paytient

Master your healthcare budget with Paytient: Track spending, maximize HSA/FSA benefits, and enjoy financial peace of mind.

Updated over a week ago

3-minute read

This content is for informational purposes only – it should not be treated as legal, tax, investment, or financial advice. Please consult with your tax or financial advisor for advice specific to your situation.

Healthcare costs can eat up your budget, especially if you have a high-deductible health plan (HDHP). It’s important to know how to manage these costs well and get any tax benefits you can. Paytient helps you manage care costs and keeps track of your spending for your budget or taxes.

Make the most of your tax-advantaged accounts

If you use a Health Savings Account (HSA) or Flexible Spending Account (FSA), you know they can help you save money on taxes. You don’t pay taxes on the money you put in, and you’re not taxed on the funds as long as you’re paying for qualified healthcare expenses. But there are limits to how much you can put in each year, and sometimes, you might need more money for care costs than you have saved.

Paytient works together with your HSA or FSA

Paytient gives you another way to pay for care expenses* without any interest.

  • If you don't have enough money in your HSA or FSA, you can pay with your Paytient card and split the cost into smaller payments over time.

  • If you want to save up your HSA or FSA money, you can use your Paytient card to pay for care instead.

  • If you're somewhere in between, you can use your Paytient card to pay upfront costs, then add your HSA or FSA as the payment method when setting your payment plan.^

Need help deciding whether to use your HSA/FSA or Paytient card? Here’s a handy chart to help†:

Paytient helps you manage today's bills so you're ready for tomorrow's. It's a tool to help manage your finances, making sure you're covered when you have big healthcare bills.

  • Make the most of your HSA/FSA
    Paytient can provide funds to cover costs if you don’t have enough in your HSA or FSA, or can protect your HSA/FSA accounts and allow them to grow.

  • More choices for what counts as a qualifying expense
    With Paytient, you have more flexibility on what counts as a qualifying expense compared to just using an HSA or FSA. Log in to your account to see what spending categories are available to you.

  • Easy integration with any health plan
    Whether you have an HDHP or another type of health plan, Paytient's on-demand line of credit is designed to integrate smoothly, ensuring you have financial support for a variety of healthcare services.

Build a budget and track healthcare expenses

The Paytient app makes it easy to track your spending! When you use Paytient to pay for healthcare, the app keeps a record for you. This is helpful for managing your budget and getting ready for tax season. You can check what you spent on care, making sure you're maximizing the use of your HSA or FSA and keeping track of potential tax-deductible expenses.

The Paytient Perspective

As healthcare costs continue to rise, having a strategic plan for managing medical expenses is more important than ever. Paytient not only aids in covering immediate healthcare costs without interest, but also assists in tracking these expenses. It's an invaluable tool for anyone looking to optimize their healthcare financing solutions.

* Note: The Paytient card works with providers in certain approved merchant categories. The provider self-selects their merchant category, and in some cases, a provider might not be categorized as expected.

^ For qualifying expenses only

† Paytient and Commerce do not provide tax advice or legal advice to users of Paytient. Consult a tax specialist regarding tax implications related to the use of your HSA or FSA card.

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