Flexible Spending Account Savings
What is a Flexible Spending Account
Flexible Spending Accounts (FSA), or a Health Savings Account (HSA) allows you to use pre-tax dollars to pay for your LASIK procedure.
Your FSA will allow you to use pre-tax dollars that your employer withholds from your paycheck and places in a special account, typically
at the beginning of the year. You usually have 1 year from the time the funds are placed into your account to utilize them.
FSA funds may be used for any medical expenses that your insurance does not fully cover, including LASIK.
Using your FSA is not just limited to the LASIK procedure, any vision correction procedure,
eye examinations, or prescription glasses are eligible for FSA use.
How Does It Work?
Payment details depend on your employer. Some employers will provide you with a pre-paid debit card for the amount that you have elected to
place in your FSA account. You simply present that debit card to us and we process it as any other transaction. Other employers will require you to pay for procedure in full, request a receipt from us, and submit it to your HR department for full reimbursement.
What type of savings will I see?
The savings you see depend on the income tax bracket you are in. Typically an average patient in the 28% tax bracket will see a savings of about $1,300 off their procedure price. Patients in the 31% tax bracket will see a savings of about $1,400
What is my next step?
Schedule a complimentary consultation today. This will allow you to determine the amount of money you will want to contribute to your FSA account to cover the cost of your LASIK procedure.
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