Dec 18, 2007 7:51 pm US/Eastern
Gift Cards For Medical Care Now Available
(KDKA)
For many, it is the perfect gift idea for that hard-to-buy-for person on their shopping list.
Now, gift cards are branching out to include health care.
The card can be used for doctors' visits if you don't have insurance and, if you do have coverage, it pays for things like prescription co-pays, contact lenses, and elective surgery.
"It's a first of its kind; no one has ever offered a gift card like this," said Kim Bellard, Highmark's Vice President.
The card is backed by Visa, so it can be used anywhere Visa is accepted for health-related services.
But you can't buy the card in a store.
You have to get it online or over the phone.
"You can buy any amount from $25 dollars to $5,000 and any denomination in between those," said Bellard. "The peak audience we believe though is women 35-50, the famous sandwich generation. So, they've got parents that have health needs, and they've got a spouse that has health needs, and older children going off to college or living on their own that have health needs."
How does the card impact medical deductions?
The person who uses the card gets any eligible write-off.
"Be sure to record how much you spent on that card because that is a legitimate medical expense that you can use when you fill out your taxes," said Jack Gillis of the Consumer Federation of America.
If you're buying the card, ask the typical gift card questions about the fees, expiration date and the procedures for what happens if you lose it.
The card has an initial $4.95 fee, along with the amount you choose to give.
If you're interested, the healthcare gift card can be ordered toll free at
1-866-466-8019 or on line at
www.givewell.com.
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