Utilize Your HSA or FSA at Our Optometrist in Meridian

As the New Year approaches, individuals and families often find that they have some unused funds lingering in their flexible spending account (FSA) or their health savings account (HSA). These accounts have different rules regarding their uses, but our goal at Primary Eyecare and Optical in Meridian is to help you make the most of your insurance benefits.

Flexible Spending Accounts at Year-End

A flexible spending account allows individuals and families to set aside tax-free funds to pay for certain health expenses throughout the year. A visit to the eye doctor for an eye exam and contact lenses or eyeglasses is a great way to use these funds. The key to this maximizing the use of this account is understanding that an FSA is a use it or lose it proposition. Any funds remaining in the account at the end of the year will be forfeited. 

In addition to an eye exam, other eye care related supplies are also authorized for reimbursement under this program. Cleaning solutions for contacts and reading glasses are also reimbursable expenses.

Health Savings Accounts at Year-End

A health savings account is similar to a flex spending account in that insured individuals can put aside tax-free funds to pay for health expenses. These accounts are typically associated with high deductible health plans and some employers also make contributions to this account on behalf of the employee. The major difference between the two is that the funds in an HSA roll over at the end of the year. These accounts are designed to encourage long-term savings for health expenses. 

Even though the funds roll over, you should still look at utilizing these funds in the most strategic way. If you have unused insurance benefits such as coverage for an eye exam, eyeglasses, or contact lenses, then using the funds in an HSA to cover your deductible can help you maximize your available benefits.

Primary Eyecare and Optical of Meridian is your optometrist in Meridian, MS. If you are looking to use your insurance benefits before the end of the year, give us a call for an appointment today.