It’s almost the end of the year, which means you only have a little bit of time to max out your medical expense deductions. If you are not tracking how much you are spending on medical expenses, you could be missing out on money in the form of tax breaks.
If you want to save money during tax season in a few months, read on to learn how to max out your medical expenses. Call the friendly staff at Metro Vein Clinic, too. There are experts on hand to walk you through how and when to file insurance claims.
How to Max Out Medical Expense Deductions
Even though taxes aren’t due for several months still, it is essential to think ahead. There are certain things you can do to ensure you get the most money back.
According to the Bureau of Labor Statistics, the cost of health care rises every year. In 2017, household spending on health care was at $4,928—up nearly seven percent from 2016. American families are spending more and more on health care every year. It is wise to take advantage of tax breaks aimed at saving you money.
The most important thing to note with tax deductions is that the base percent is expected to rise next year. For 2018, it’s permissible to deduct medical expenses that are above 7.5 percent of your adjusted gross income. In 2019, that percentage will increase to 10%. The House passed a bill to extend the 7.5%, but it isn’t likely to get through the Senate.
So, if you itemize your deductions, and you have more considerable medical expenses, you will want to take advantage of what little time you have left in 2018. If you can accelerate scheduling and get things done in 2018 instead of 2019, you can save money. You will have to pay the bill in 2018 to take advantage of this.
Only medical expenses that are not reimbursed are eligible. So, if you use a flexible savings account or a health savings account to pay for the procedures, they will not qualify. However, many other medical expenses are eligible, including co-pays, co-insurance payments, dental work, travels costs for health care, and most insurance premiums.
A helpful hint: you can count any money you pay in 2018 towards the medical expense deduction, even if the procedure or treatment is not until 2019. This includes January premiums. You can also include any medical expenses you pay for a non-dependent, like an elderly parent.
What Are Spider Veins and Varicose Veins?
Spider veins and varicose veins are ultimately damaged veins. These damaged veins occur when small valves inside the veins become weak. In a normally operating vein, blood is pushed back to the heart through these valves.
However, in weakened valves, all the blood is not pushed to the heart, so it flows backward. When this blood isn’t able to be forced to the heart, it accumulates in the vein and pools. This extra blood creates pressure inside the vein.
As more and more blood pools in the vein, the vein will begin to bulge. Over time, we see these growing veins, also known as spider veins or varicose veins.
Many people get these unsightly veins. If you have family members with either of these, you are more likely to get them yourself. If you sit or stand for long periods for many days during the week, you are likely to get varicose or spider veins. If you are or have been pregnant or have other hormone fluctuations, you are a higher risk. As you age, spider and varicose veins become more likely. Prolonged exposure to sunlight or injuries to your legs could cause damaged veins, as well.
What is Vein Treatment?
If you have spider or varicose veins, there are some things you can do at home that might help. There are also medical procedures a professional can perform to ease the discomfort of these veins.
When you are at home, elevate your legs to decrease blood flow to the damaged veins. Do not sit or stand for long periods, and take a brief walk every 30 minutes or so. Also, avoid long, hot baths.
Compression stockings will apply pressure to your legs throughout the day. This pressure will help the blood to flow back to your heart. It can also reduce swelling in your legs. All these tips will help prevent future varicose or spider veins, but will not fully heal existing ones.
A medical professional can use a vein treatment technique called sclerotherapy. Sclerotherapy is a safe and effective treatment method in which a doctor injects a chemical into the affected vein. This chemical agitates the wall of the vein, causing the walls to stick together. This should improve circulation.
After treatment, doctors encourage massage and compression stockings. Spider veins should diminish in three to six weeks. Varicose veins take a little longer to heal but usually disappear in three to four months. Often, more than one treatment is needed, though.
Endovenous laser therapy and radiofrequency ablation are also available. While slightly more invasive, both these methods have great results. A medical professional uses local anesthesia to numb the treatment area. They make a small incision to insert a laser fiber or catheter into the vein. The vein is heated, which will cause it to collapse and close. You will need compression stockings for a period after treatment.
Why Should I Get Vein Treatment?
Spider veins and varicose veins aren’t just unsightly; they can be uncomfortable or downright painful. Beyond the discomfort, you might be at a higher risk for health complications, like blood clots or open sores.
Getting vein treatment will improve your quality of life. Not only will your legs look better, but you also will not have the negative symptoms of spider and varicose veins anymore. Say goodbye to pain and fatigue!
To get the best treatment available, call the experts at Metro Vein Clinic. They have the experience you need at the affordable prices you want. The friendly staff will work with you to ensure you have the best possible scheduling, and that you are paying what you should. Leave the insurance questions to them. Call Metro Vein Clinic today.