How to Use Your HSA, FSA, & Insurance Benefits On Your Vision

Instead of waiting to improve your health, spend your HSA, FSA, and deductible on correcting your gift of vision and improving your health now. Investing in your health will help improve your life. While a majority of your goals may be related to your diet or exercise, it can be easy to forget how your vision impacts your health and quality of life.

Your eyesight is one of the most important biological assets in your possession, yet this gift is often the last on the list for scheduled maintenance. This is common because many insurance plans do not cover yearly eye exams, preventative diagnostics, and devices like glasses and contact lenses.

What is an HSA?

A Health Savings Account (HSA) is an account that allows you to set aside money without taxation for preventative healthcare costs such as premiums, co-pays, and medical expenses not covered by your regular insurance or prescription plans.

Many patients use their HSA plans to pay for necessary annual preventative care such as dental exams, elective procedures, vision care, and corrective procedures.

What is an FSA?

A Flexible Spending Account (FSA) is an account that you can create for various healthcare-related expenses, including your deductible. This account is non-taxable by the government and depending on your employer, they may match your monthly contribution to your FSA account or offer reimbursement for certain vision expenses associated with this account.

FSA and HSA Compatible Expenses

When considering the best way to spend your end-of-year FSA and HSA balance, instead of paying for expected co-pays and deductibles, consider spending your balance on FSA-approved vision expenses.

1. Eye Exams

Preventative eye exams are the key to diagnosing infections and progressive diseases, such as macular degeneration, which can cause irreversible blindness.

Despite these risks, some insurance plans do not cover annual eye exams. Treat your eyes well this winter and use your FSA and HSA balances to visit your ophthalmologist.

2. Eyeglasses and Contact Lens

Even if your annual eye exam is covered in your insurance plan, necessities like eyeglasses and corrective lenses are often only partially covered.

Correcting your vision is important to daily functions, and these necessary adaptive devices are included in the compatible expenses list for both FSA and HSA accounts.

3. Corrective Eye surgery

While many eye surgeries are classified as elective procedures and not covered under most insurance plans, procedures like eye surgery help many people see clearly and can make lasting improvements to your quality of life.

Rather than spending money on glasses and contact lenses each year, consider a one-time surgery that can correct your vision, so you will never have to purchase corrective devices again.

Your Vision is Important – Don’t Wait

Regardless of your vision needs, if you have money in your FSA or HSA, now is the time to spend it! Invest in your health. Our team of ophthalmologists in Ann Arbor, MI, and other areas offer various types of eye care solutions such as cataract eye surgery, macular degeneration treatments, LASIK eye surgery for hyperopia, retinal detachment surgery, and astigmatism treatments.  Our doctors provide treatments that can help you see better and ensure your eyes are healthy. We put our patients first. So, don’t wait, schedule your appointment today. Your vision may depend on it.