Taking care of your eyes should be a top priority, and a flexible spending account or FSA makes it easier to do so. Your FSA can pay for qualified eye care expenses.
Keep reading to learn more about how to use your FSA to cover your eye care costs!
What Is an FSA?
An FSA is a special tax-free account offered by certain employers. It enables you to set aside pre-tax money from your paycheck, which can be used to pay for approved medical expenses.
However, there’s a catch with FSAs. You must spend the funds in your flex account before the plan year ends. Otherwise, whatever’s left is forfeited back to your employer.
Although FSAs follow the use it or lose it rule, your employer can choose to give you a grace period of up to two and a half months to spend what’s left in your FSA. Alternatively, they can allow you to carry over a maximum of five hundred and fifty dollars in your FSA to use in the next plan year.
Ways to Spend Your FSA for Eye Care
Here are some of the ways you can put your tax-free benefit dollars to work:
You should get your eyes checked every year, even if you can see clearly. These exams enable your eye doctor to monitor your eye health and spot diseases early when treatment is most effective. If your eyes haven’t been checked this year, visit your eye doctor to make sure they’re as healthy as possible.
Your eye doctor may determine you need a new glasses prescription to see more clearly. You can update your glasses prescription using your FSA if a new prescription could allow you to experience clearer vision.
While you may already have prescription glasses for daily use, you can also benefit from having an additional pair. Buying backup glasses with your flex dollars will save you hundreds in case you damage or lose your other pair in the future.
Excessive exposure to the sun’s UV rays can lead to macular degeneration, cataracts, and even cancer. Sunglasses can shield your eyes from the harmful rays all year round.
Prescription sunglasses are approved for flex spending and protect your eyes from the damaging effects of the sun.
You can purchase a year’s supply of contact lenses with your FSA; and it doesn’t matter if you use extended-wear or daily disposable contacts.
Both have a long shelf life of about four years when properly stored.
You can also buy contact lens solutions and carrying cases with your flex funds.
Buying in bulk saves you the stress and hassle of running out of contacts. Plus, many contact lens manufacturers offer amazing annual supply rebates, which help you keep more money in your pockets each year.
Have you always wanted to ditch your prescription glasses or contact lenses? Your flex spending money can make this a reality.
Procedures like LASIK or PRK are FSA-eligible and can help you reach your vision goals.
Use Your FSA at VisionPoint Eye Center
Don’t let your hard-earned flex dollars go to waste. With only a few weeks remaining in 2022, now’s the perfect time to take advantage of your flex funds at VisionPoint Eye Center and at 1107 Optique!
Want to get the most out of your flex dollars and maintain the best vision possible? Schedule your appointment at VisionPoint Eye Center in Bloomington, IL, today!