Why Should I Use My FSA/HSA for Vision?

If your employer provides a flexible savings account where you deposit part of your income before tax, these funds can help expand your healthcare plan. FSA/HSA contributions typically cover all medical-related problems but include special provisions for people with medically proven visual limitations.

You and your entire family can address most of your optical needs without spending any out-of-pocket money through an annual $2,750 individual contribution or a $5000 deposit.

What Can or Can’t You Buy With FSA/HSA Funds?

As long as you have a medical prescription, you can purchase different eyewear during the eligibility period starting from January 1st to December 30th. Items mostly covered include:

Prescription Eyeglasses

FSA funds automatically cater for your prescription eyeglass expenses, including glasses with different types of lenses, such as bifocal or progressive lenses. Additional modifications, such as scratch or anti-reflective coatings on your prescription eyeglasses, are eligible for FSA funding.

Sunglasses

FSA/HSA contributions fund can also be used to purchase polarized, photochromic, or mirrored sunglasses as these lenses are medically approved.

Contact Lenses

Different lenses, including multifocal and toric lenses that help correct common vision problems are FSA eligible. These funds cover the expenses of your daily disposable lenses and also long-term wear lenses.

Type of eyewear not funded by your FSA/ HAS savings include:

Fashion sunglasses
Contact lenses that don’t correct eye vision
Extended warranties for sunglasses
Insurance for contact lenses or glasses

Benefits of FSA/HSA Contributions for Vision

The benefits of FSA/HSA savings plan over other insurance plans include:

Stock up

FSA contributions expire after a year, regardless of whether you use the funds or not. However, there are no limits to how many prescription sunglasses or eyeglasses you can buy during this period, as long as you have a doctor’s prescription.

So if it nears the end of the year and you still have a sizable amount in your FSA account, you can use this amount to purchase an extra pair of sunglasses with a contrasting frame color. You can also buy additional accessories for your glasses, including cleaning wipes and solutions.

Ease of Access

With FSA/HSA funds, you can purchase almost all vision eligible items at the push of a button. All you need is to present your FSA card at a store counter or a doctor’s office to access prescription glasses, medical sunglasses, or other visual accessories.

You’ll have to keep all your debit card receipts from these transactions for online verification later.

Cover Multiple Vision Needs

When exercising, you may not be as comfortable with your regular glasses on. Through your FSA/HAS funds, you can purchase glasses for special occasions or replace them with more flexible options like contact lenses. In addition, you can own prescription glasses for when going out, attending work, and even engaging in sports.

HSA Rollover Plan

Unlike your FSA funds that expire after a year, HSA savings roll over to the next year. This means you won’t lose any of your savings even if you don’t exhaust them within the year.