Use Pre-Tax Dollars on Clearly Better Vision in 2020

Did you know that you can pay for medical expenses with pre-tax dollars? With an HSA (Health Savings Account, available to US taxpayers who enrolled in a high-deductible health plan) or an FSA (Flex Spending Account, often available as part of your employer’s benefits package), any funds you contribute are not subject to federal income tax.

Both FSAs and HSAs are designed to cover any services and items that hold a legitimate medical purpose.  This translates to a wide variety of options. These funds can be used on prescriptions, at the doctor’s office to cover co-pay costs, and for medical procedures that are not covered by standard health insurance plans.

What most people don’t consider is that the funds in these accounts can also be used at your eye doctor on exam co-pays, glasses and contacts. Even lesser known, these funds can also be used to pay for more advanced laser eye surgery (such as LASIK), laser cataract surgery, or corneal lens implants and inlays (such as KAMRA for near vision correction), specifically designed to help you alleviate your reliance on glasses, all together.

Like most of us, you probably have an annual physical exam with your primary doctor and get your teeth cleaned every six months, but do you schedule yourself an annual eye exam? Eye care professionals around the world recommend that you should! Annual eye exams are important for many reasons. It’s important for your doctor to identify current eye muscle imbalances, or detect early signs of vision diseases and disorders that may cause future vision problems.  While early detection of vision problems is incredibly important, annual eye exams also play an important role in the early detection of much more serious conditions, such as brain tumors or high cholesterol, before they become fatal.

What does that mean to you? You only have a few days left to make changes to your 2020 healthcare selections. Consider adding one of these of accounts to your benefit package. This way, you’re not subject income tax on the funds you set aside to meet your vision goals in 2020.

Ready to take the leap? Click below to schedule your eye exam at the Rochester Eye & Laser Center, right now!