Time to use your FSA is running out! Your flexible spending account doesn’t roll over into the next calendar year, so if you’re in need of a new prescription, eyeglasses, prescription sunglasses or contact lenses, contact us today so we can get the ball rolling.
What Is An FSA?
An FSA is something you sign up for with your employer which takes money, tax-free, out of each paycheck and deposits it into an account. You can use this account for health expenses which aren’t covered by insurance. You decide on the amount in advance, and you can use it toward any eyecare expenses whether they’re covered by your vision insurance plan or not.
The only catch is that you have to use all of your FSA before the end of the calendar year or it disappears. The money does not roll over into the new year with you. So schedule your eye exam today, and come in for new glasses to take advantage of your FSA dollars before the end of the year!
What Expenses Does My FSA Cover?
Every FSA plan is different, so you’ll have to speak with your employer for the exact details. But typically, an FSA will cover vision expenses like:
- – Co-payments
- – Deductibles
- – Routine eye exams
- – Prescription eyeglasses
- – Prescription sunglasses
- – Prescription contact lenses
How Do I Use My FSA?
First, you’ll want to understand your plan. Talk to your employer or read your FSA guidelines to know what’s covered. Next, make an appointment to meet with your eye doctor, like Dr. Nick, Dr. Stacy, Dr. Sara or Dr. Kevy. Don’t get overwhelmed, use this appointment as a starting point for how you should spend your FSA funds, as you’ll learn if you have any vision issues which need to be addressed at this point. Also, doctors can get very busy at the end of the year, so try to schedule as early as possible.
Then, do some preparation before your appointment. Browse some prescription glasses or sunglasses online, and have a few different styles in mind to help you choose when you come in.
When you do have an appointment, be sure to hold onto your receipts as you may need them for proof at a later date.