They often go by several names, but a flexible spending account, health savings account, or other option offered by your employer all have the same goal - to help you cover medical expenses throughout the year. In many instances, you have access to a select dollar amount right away and you pay for your plan with automatic paycheck withdrawals over the calendar year. For families with a lot of medical expenses, this benefit can be a lifesaver as the dollars you spend are pre-tax, but still many aren’t getting as much out of their funds as they could be.
Patients are often surprised to learn that the services at Associated Eyecare, from eye exams to contact lenses, are covered by most FSA/HSA plans. If you’re left with money to burn and you’re not sure what to do, check out this simple guide.
Timing Is Everything
Medical expenses can be difficult to project a year in advance, and often times, people are left with a decent amount of money left in their FSA account as the year draws to a close. Rather than wait for December 30th to roll around, consider scheduling your annual eye exam now. Our practice sees an influx in appointments as the year ends, so make sure you call us sooner rather than later!
Enjoy A Shopping Spree
Not only will the cost of your eye exam be included under your FSA plan, but any eyewear you purchase can also be paid for using those dollars. It’s not uncommon for people to have several thousand left in their accounts toward the end of the year, and if you don’t use it, you lose it!
Pick up a few pairs of glasses that allow you to change up your look when needed and don’t forget about prescription sunglasses either. Those who are typically frugal with their selections should make every effort to spend their FSA money down to the last penny - after all, it’s already come out of your paycheck.
Mind The Details
One of the most common questions that we encounter at Associated Eyecare is if patients need to have their glasses order ready for pickup before the end of the year so that their FSA plan will cover the cost. Thankfully, you simply have to place your order and pay your total balance before December 31st and we’ll take care of the rest. Feel free to pick up your glasses in January after the holiday season has calmed down a bit.
However, your FSA provider may want documentation to make sure that your purchases were in fact made within the calendar year, so hang on to your receipts and make copies to submit if needed.
If you’re one of the lucky people who ended up with far more left over in your flexible spending account than you imagined, visit us today before the end of the year. Our opticians will help you to select some gorgeous eyewear, can place an order for contact lenses, and will ensure that you go home with all the paperwork you need to show that you planned your purchases just right.
