As the year draws to a close, many people find themselves reflecting on the past year and planning for the future. One important aspect of this planning is ensuring you make the most of your Flexible Spending Account (FSA) and vision insurance benefits before they expire. December is the perfect time to focus on your eye health and take advantage of these benefits. Here’s how you can make the most of your vision benefits before the year ends.
Understanding your FSA and HSA
Both FSAs and HSAs offer tax-advantaged ways to pay for out-of-pocket medical expenses, including eye care. Here’s a quick breakdown of each:
- FSA (Flexible Spending Account): These accounts allow you to set aside pre-tax dollars for healthcare expenses. However, FSAs typically have a “use-it-or-lose-it” rule, meaning that any funds not used by the end of the year (or the grace period, if applicable) are forfeited.
- HSA (Health Savings Account): These accounts are available to those with high-deductible health plans. Unlike FSAs, HSAs have no “use-it-or-lose-it” rule, and funds can roll over year to year. However, it’s still a good idea to use some of your funds for immediate eye care needs.
Maximizing vision insurance benefits
Vision plans often have benefits that reset annually. These benefits can include coverage for routine eye exams, discounts on eyewear, and sometimes partial coverage for corrective surgeries. Here’s how to make the most of them:
- Schedule an eye exam: Routine eye exams are crucial for maintaining good vision and eye health and can detect issues early. If your plan covers an annual exam, make sure to book it before the year ends.
- Update your eyewear: If you’ve been eyeing a new pair of glasses or need new contact lenses, now is the time to book an exam. Many vision plans offer allowances for eyewear or contact lens purchases each year.
- Consider elective procedures: Some plans offer discounts on elective procedures like LASIK. If you’ve been considering corrective surgery, check your benefits to see what might be covered.
Tips for year-end eye care planning
- Review your benefits: Take a close look at your FSA/HSA balance and vision benefits. Understanding what’s covered can help you prioritize your spending.
- Purchase necessary supplies: Use your FSA/HSA funds to stock up on eye care essentials like contact lenses, cleaning solutions, and prescription sunglasses.
- Consult your eye care provider: If you’re unsure about how to use your benefits effectively, our team can offer guidance tailored to your situation.
Why it matters
Making the most of your FSA, HSA, and vision benefits not only helps you save money but also ensures you take good care of your eyes. Regular eye exams are essential for detecting issues early and maintaining overall well-being.
By taking the time to use these benefits before the year ends, you’re investing in your eye health for the future. Don’t let your benefits go to waste—reach out to us today to schedule an eye exam in St. Charles or St. Louis.
