As the year-end approaches, it’s time to check your Flexible Spending Account (FSA) and Health Savings Account (HSA) balances. This is critical, especially for FSA holders, as most funds expire on December 31st due to the “use it or lose it” rule.
The great news is that these pre-tax funds are an excellent resource for many high-value eye care services at Sweeney Eye Associates.
Eligible Eye Care Services & Products
The IRS qualifies many life-changing vision expenses for tax-free FSA/HSA payment, including:
- Vision Correction Surgery: Procedures like LASIK/PRK that permanently correct refractive errors are generally fully eligible.
- Premium Intraocular Lenses (IOLs): Use your funds to cover the upgrade fee for premium IOLs (e.g., multifocal, toric) during cataract surgery, reducing or eliminating your need for glasses.
- Prescription Eyewear: Fully cover new frames, prescription sunglasses, and premium lens features like anti-glare coatings, progressives, and blue-light filters.
- Contact Lenses & Solutions: Annual supplies and required care products are fully eligible.
Don’t Let Your Benefits Expire!
- FSA Holders: Don’t delay! Check your plan for any grace period or rollover, but plan to spend your balance now to save with pre-tax dollars.
- HSA Holders: Though your funds roll over, using them now allows you to pay for a procedure with accumulated, tax-free savings.
