Answer: No, but you might consider establishing a Health Savings Account ("HSA") for yourself.
When you file your taxes each year, all of the money you have deposited into your own HSA will be tax-deductible. When you visit a physician, you pay with tax-free money from your savings account at the discounted PPO rate.
When you need to purchase prescriptions, you pay with tax-free money from your savings account at the discounted PPO rate.
Some medical expenses not covered under traditional health plans are covered under the HSA. (dental work, vision care, lasik, braces, maternity, etc.)
By funding the HSA account every year, you will reduce your taxes each year plus, more importantly, it will give you a larger and larger cushion against unexpected "catastrophic" type claims in the future.
Dipping into your HSA savings account is NOT the same as dipping into your pockets - your HSA is the functional equivalent of "insurance coverage for the small bills" - what you don't have to use is yours to keep - which is dramatically different than paying an insurance company a few thousand dollars a year to do virtually the same thing...insure the "small" bills. Pay yourself not the insurance company.
HSA funds can be used to pay any provider with no network restrictions.
About the Author: John Leslie, a certified Quickbooks Pro Advisor, has 20 years of experience in the tax field. Mr. Leslie is a member of the Lakeside Chamber of Commerce, has been involved in the San Diego business community since 1986 and has lived in the area for over 40 years. His strong ties to the community have shaped the client-business philosophy for which IRSTAXHELP.COM is known.