The end of the year is fast approaching! While this means we’ll soon be celebrating the holidays and ringing in the new year, it also means that you are running out of time to use your 2022 flex savings dollars.
Most flexible spending accounts have a use it or lose it rule. That means if you don’t use the money you have allocated to your FSA by the end of the year, you lose that money!
One great way to ensure that you are getting the most out of your FSA dollars this year is to use them to pay for eye care. Keep reading to learn some of the options for using your funds to care for your eyes!
If you’ve been considering permanently correcting your vision with LASIK surgery but may have been wary about the cost, you can use your FSA dollars to cover some, or all, of this life-changing eye surgery. LASIK means you can reduce the ongoing expense of glasses or contact lenses to correct your vision.
Using your FSA account is not only an excellent investment in yourself, it ultimately means you save money on years of vision expenses.
Overdue for an eye exam? Now is the perfect time to have your eyes checked!
Scheduling an eye exam before the end of the year ensures not only the health of your eyes and the quality of your vision but also ensures that you are not losing your pre-tax FSA allocation.
You can use your flex-saving dollars to get those designer eyeglasses you’ve had your eye on or a spare set of that favorite pair you are forever losing! Depending on how much you have to spend, FSA dollars can cover frames, prescription lenses, or both.
Stock up on contact lenses using your FSA! If you have a stable contact lens prescription, you can be sure you’ll never be without a pair to spare.
If you have been thinking about the convenience of daily lenses over weekly or monthly lenses, now might be the right time to make that switch.
If you have been diagnosed with cataracts, you can use your FSA to offset any out-of-pocket surgery costs or to upgrade to a premium inter-ocular lens! Opting for a premium IOL for your cataract surgery not only gives you clearer vision but can also correct your near, middle, or distance vision, eliminating your need for corrective eyewear.
Premium IOLs are usually not covered by health insurance but are an allowable flex spending expense.
While co-pays are often low, over time, they can add up. With most FSA accounts, you can submit reimbursement requests for any co-pays or other out-of-pocket expenses for eye care not covered by insurance at any time during the current calendar year.
That means that you can get back that co-pay you paid in March or August just in time for the holiday shopping season!
Flexible spending accounts are a great, tax-advantaged way to save money on health care expenses. As the amount you allocate to your FSA is taken out of your paycheck in small increments through the calendar year rather than in one lump sum, it can be easy to forget you have those savings to use until it’s too late.
At Shepherd Eye Center, we offer many of the eye care options covered by your flexible spending account.
Do you want to get the most out of your flex dollars before the year’s end? Schedule an appointment at Shepherd Eye Center at one of our 5 locations in Henderson or Las Vegas, NV, with one of our eye care specialists before the year ends!