10 Ways to Save Using Your Flexible Spending Account!

Do you have a Flexible Spending Account for 2011 or thinking about setting aside money in an FSA account for 2012?  

With the end of the year fast approaching, we are entering the time of year when many patients who have set aside funds through their employer’s FSA account find themselves scrambling to find ways to use the money before time runs out.  It is also the time of year when many employers require employees to make a decision about participating in a Flexible Spending plan for the upcoming year. 

Confused about how you can spend your FSA dollars?  We can help!

What is an FSA account?

An FSA spending account is an account that allows you to set aside pre-tax dollars to pay for out-of-pocket medical and health related expenses   An FSA allows an employee to have a portion of their paycheck deposited into an account to pay for expenses not covered by their medical or vision plan.  This contribution is not subject to payroll taxes, so you can realize substantial tax savings at the end of the year! 

Though some of the rules for over-the-counter items changed in 2011, many are still available to use FSA funds provided that you have a doctor’s prescription.  To help you, we have compiled a list of vision care related items that may be eligible for FSA reimbursement.  If you are unsure, please check with your employer regarding your specific FSA eligibility for purchases outlined below. 

Using Your Fexible Spending Account Makes Sense!  Here's 10 Ways to Save!

1. Eye Exam co-payments and deductible amounts not covered by your medical or vision plan
2. LASIK or other elective vision correction procedure such as Implantable Contact Lenses (ICL); Clear Lens Exchange or Multi-focal intraocular implants following cataract surgery.
3. Prescription eyewear – tired of wearing the same glasses every day?  Now’s the time to get that second or third pair and save!
4. Sunglasses, prescription or non-prescription - Sun wear is important even during the fall and winter months!  Non-prescription sunglasses may require a prescription written by your eye doctor.  Be sure to ask our staff if you qualify!
5. Upgrade to premium lens options such as anti-reflective no-glare coatings or Transition® lenses - clear lenses indoors that darken outdoors and provide 100% protection from UV rays.
6. Reading glasses – we now have a great selection of over-the-counter readers that are better optical quality than you typically find at the drugstore.  Come in and check them out!
7. Year’s supply of contact lenses.  Use manufacturers rebates when you purchase a year supply and take advantage of twice the savings!  Did you know that you can now order your contact lenses online using our convenient contact lens order form?
8. Contact lens solutions, cleaners and supplies including contact lens rewetting drops.
9. Prescription eye drops/ointments or over-the-counter drops or ointments with a prescription provided by your eye doctor.
10. Eye Vitamins/Supplements to treat dry eye or macular degeneration, such as Eye Promise™ Restore and Eye Promise™ EZ Tears, are available for purchase in our office or online through our website.