How Easy Is It to Use HSA and FSA Funds for LASIK? Let’s Break It Down!
If you’ve been thinking about LASIK at Parkhurst NuVision, you may already know it can be a game-changer for your vision. But did you know that using your HSA (Health Savings Account) or FSA (Flexible Spending Account) is one of the smartest ways to pay for it? Let’s make it super simple to understand how to use these accounts for LASIK, so you can take advantage of your pre-tax dollars to get the vision you’ve always wanted!
What Are HSA and FSA Funds, Exactly?
HSA and FSA accounts are special savings accounts that let you set aside money before taxes to pay for qualified medical expenses, like LASIK eye surgery. This means you get to save on taxes while paying for healthcare. Here’s a quick breakdown:
- HSA (Health Savings Account): Often linked to high-deductible health plans (HDHP), and the funds roll over year to year. Even better, your HSA can grow with interest, and you keep it even if you change jobs.
- FSA (Flexible Spending Account): Often set up through your employer and works on a “use-it-or-lose-it” basis, meaning you need to use these funds by the end of the plan year or they’ll expire. Some FSAs allow a grace period or a small rollover, but check your plan details.
Why Use HSA or FSA for LASIK?
Using HSA/FSA funds means you’re essentially getting a discount on your procedure because you’re using pre-tax dollars. Depending on your tax bracket, that can translate into a significant savings of 20% to 30% or more compared to paying with after-tax income. So why wouldn’t you want to take advantage of that?
Step-by-Step Guide: How to Use HSA/FSA for LASIK
- Check Your Balance
First, see how much money you have in your HSA or FSA account. LASIK is considered an eligible medical expense, so all you need to do is make sure you have enough to cover the cost of the procedure. - Schedule a LASIK Consultation
The first step in the LASIK process is a consultation. During this visit, your LASIK specialist will determine if you’re a good candidate. Most LASIK practices, like [insert practice name here], will be familiar with HSA and FSA payments and can guide you on the next steps. - Pay with Your HSA or FSA Card
You can usually pay for your LASIK procedure directly with your HSA or FSA debit card, just like a regular credit or debit card. If your provider doesn’t accept HSA/FSA cards, no worries! You can still pay out-of-pocket and get reimbursed from your HSA or FSA by submitting a claim with the receipt. Easy, right? - Submit the Claim (If Necessary)
If you paid out of pocket, just go online to your HSA/FSA portal, submit a claim, and attach your LASIK receipt. Approval usually doesn’t take long. Some plans even allow you to submit claims through a mobile app! - Sit Back and Enjoy Your NuVision
You’re all set! Using HSA or FSA funds is just like using your regular bank account—except it’s a tax-free benefit.
When to Use HSA/FSA for LASIK
If you have an FSA, consider using it towards LASIK towards the end of your plan year (if you haven’t used the funds yet), so you don’t risk losing that money. For HSA, since funds roll over, you have more flexibility on timing.
Pro Tips
- Plan Ahead: If you know you want LASIK, consider maxing out your FSA for that plan year or contributing more to your HSA. This way, you can use the funds specifically for your procedure.
- Combine Accounts: If you have both HSA and FSA, you might be able to use them together depending on your plan. Check with your provider.
Final Thought: Your Vision Is Worth It!
Getting LASIK is an investment in your quality of life. Using your HSA or FSA funds is a smart way to make the cost of the procedure more affordable, while letting your tax-free savings work for you. Ready to ditch the glasses and contacts? Schedule your consultation today and get one step closer to clear vision!
Still have questions? Call us at (210) 585-2020 or reach out to our team—we’re here to help!
