If you are a person who likes to take advantage of the opportunities provided in order to save as much money as possible, then you are likely already familiar with a flexible spending account. If you are asking yourself “what is a flexible spending account?” right now, then you have some important information to learn. A FSA is an account that is set up through your employer and has funds deposited into it that can be used for your health care purposes. The main benefit of an FSA is that the funds deposited into it (and used for medical expenses) are untaxed. You can get a new pair of glasses or even a batch of contacts without having to pay taxes on the money used for these purchases–which can result in some serious savings!
Flexible Spending Accounts and Eye Health
People who have existing visual health issues or are concerned with their eye health, even if it’s considered good right now, can seriously benefit from using a FSA.
- There’s a very good chance that your eye doctor in Miami works with FSAs, so you can easily locate an optometrist that will allow you to use your funds specifically set aside for health care expenses.
- The money in your FSA can be used to purchase a new pair of glasses when the time comes. A pair of glasses can be expensive, especially if you have a unique prescription or prefer to wear designer frames.
- You can also use your FSA funds to purchase a set of contacts. If the end of the year is coming and you don’t want to lose the money in your FSA, then consider using the rest of your FSA funds to purchase backup contacts.
- If your eye doctor in Miami Beach charges a copay when you come in for your appointment, then you can use your FSA funds to cover it. However, you cannot pay for insurance premiums using the money in your FSA.
Are FSAs Worth it in Regards to Eye Care?
After learning about FSAs and how they work, you may be wondering if it’s actually beneficial for you to start a FSA in regards to your eye care. Those who don’t wear glasses or contacts are especially going to be worried about this. However, because the funds in your FSA can also be used for other types of health care costs, it is very beneficial to start this type of account. There may come a time when you get an optical infection and need special drugs that aren’t covered by your existing health care provider, in which case you can use the untaxed funds in your FSA to get the drugs you need.