Can You Use Your Flexible Spending Account for Contact Lenses?

Can You Use Your Flexible Spending Account for Contact Lenses?

Can You Use Your Flexible Spending Account for Contact Lenses?

Can You Use Your Flexible Spending Account for Contact Lenses?

Can You Use Your Flexible Spending Account for Contact Lenses?

November 30, 2020
Contact Lenses


Contact lenses are a very popular solution for patients with refractive eye errors. Many people dislike the way that glasses make them look or feel, or become frustrated trying to remember to where they left them, take them with them or not being able to do certain activities while wearing them. Instead, contact lenses offer the wearer greater versatility in their day to day lives.

 

If you want to use contact lenses to correct your vision, you may be concerned about the ongoing costs associated with them. The exact costs involved will depend on the type of contact lenses you choose. For example, daily disposables typically cost more than longer wear varieties, but they also don’t require cleaning solutions and other supplementary products. Fortunately, when it comes to paying for your contact lenses you may have a few options available to you. One of these may be your Flexible Spending Account.   


What is a Flexible Spending Account?


A Flexible Spending Account, also known as FSA for short, is a special account that you put money into that is then used to pay for certain out-of-pocket healthcare costs. Some employers choose to make contributions to FSA’s, but this isn’t a legal requirement and whether yours does or not will depend on your employment package.

 

One of the biggest benefits of a Flexible Spending Account is that people who opt into one don’t have to pay taxes on whatever amount that they put into the account. This enables you to save an amount equal to the taxes that you would have otherwise paid on the money that you have set aside for out-of-pocket healthcare expenses. In most instances, you must use the money in your FSA within the plan year, though there can be a few exceptions to this. You’ll need to inquire with your employer directly to see if you are eligible for any grace period or to carry over any of the money to the next plan year.

 

When it comes to contact lenses, if you require contact lenses for optimal vision, you should be able to use your Flexible Spending Account. Your FSA can also be used to cover the cost of any materials required to use your contact lenses, such as saline solution and cleaner.

 

 

If you would like to learn more about using your Flexible Spending Account to cover the cost of your contact lenses, call us at East Main Vision Clinic and speak with our friendly and knowledgeable eyecare team at 253-780-0700.