Don’t Forget About Your Flex Spending Dollars!
As the year draws to a close, you may have leftover funds to use on healthcare. If you have an FSA, you have flex spending dollars that expire before the end of the year.
An FSA (Flexible Spending Account) is like a bank account set up through your employer. It enables you to put pre-taxed money aside from every paycheck.
The funds deposited in an FSA can pay for medical costs not covered by vision or insurance plans. Perhaps the most significant advantage of an FSA is that money in the account isn’t taxed.
But there’s one catch. You must spend all of the money in a flex spending account before December 31st of each year.
This means if you don’t use the money in an FSA before the expiration date, you’ll lose it all. If you have a flexible spending account and haven’t taken advantage of the flex dollars, now is the perfect time to use your annual benefits before they expire. Often, you can’t transfer your FSA benefits over to the new year.
Below are some ways you can put your funds to good use:
Your FSA covers lenses and frames. If you already own a pair for daily use, this might be the perfect time to get that spare pair of prescription glasses you’ve always wanted. They can come in handy if you damage or misplace the ones you have.
Have you been putting off your annual eye exam? An eye exam is vital to keeping your eyes and vision healthy. Your eye doctor can diagnose any conditions early by having an eye exam.
Early diagnosis leads to early treatment, which can help prevent vision loss. You can pay for your comprehensive eye exam with pre-tax dollars instead of letting them go to waste.
Since FSA benefits don’t have a roll-over option, it’s best to put them to good use before the year ends. If you find it increasingly difficult to read, use the computer, perform physical activities, or stay outside for long due to dry eyes, you can spend your flex dollars on dry eye treatment.
The sooner your dry eyes are treated, the faster you can get relief.
Did you know you can use your FSA to cover some or most of the expenses if you have LASIK? Investing your tax-free money in LASIK before your flex dollars expire could save you a lifetime of vision care costs.
Financing LASIK with flex dollars will help you reduce or eliminate your dependence on glasses or contacts without breaking the bank.
Another healthy way to help your eyes while using your flex dollars is purchasing a pair of computer glasses. Computer Vision Syndrome is caused by spending too much time in front of the computer screen.
Staring at your computer for hours can put a real strain on your eyes. Straining your eyes can result in uncomfortable symptoms like headaches, eye fatigue, double vision, back or neck pain, dry eyes, and blurred vision.
If you’re experiencing any or some of these symptoms, computer glasses will ease Computer Vision Syndrome symptoms.
One of the smartest investments you can make for your vision is spending your FSA funds on eye care before they expire. Schedule an appointment at Short Hills Ophthalmology in Clifton and Short Hills, NJ, today to make the most of your flex dollars before the year ends!