Yes, it is that time of the year, how many guests are coming to Thanksgiving dinner? What is Santa going to bring? What are we going to serve at our New Year’s Eve party? Have you thought about those healthcare dollars that will disappear faster than the ball dropping in the Big Apple on December 31st?

Most companies have a policy of “use it or lose it” if you have a remaining balance in your Flexible Spending Account (FSA) on December 31 at 11:59 PM. You will give up that money if your healthcare expenses during the year are lower than what you have accumulated in your FSA over the year.

Some accounts will allow a short grace period and reimbursement until March 31. You should check with your employer or insurance company for details.

Some vision-related expenses are not covered by health insurance, so you can save money by using a tax-exempt FSA to cover some of those costs.

When it comes to vision care, FSA-eligible expenses include:

• The cost of an eye exam
• Prescription eyeglasses
• Prescription sunglasses
• over-the-counter reading glasses
• Contact lenses
• Eye care accessories
• Eye drops
• Eye surgery

Utilizing your FSA money to pay for vision-related expenses makes it easier to take care of your eyes and vision. Schedule an eye exam today and put your contributions to good use.

Sources:
www.CNBC.com
www.metlife.com
www.allaboutvision.com
www.healthequity.com

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