Use Your FSA or HSA on Glasses and Contacts Before December 31
Every December, people realize they still have money in their flexible spending account (FSA). With many FSAs, money you don’t spend by the end of the plan year is lost. Eye care is one of the easiest ways to use it: an eye exam, a new pair of glasses, prescription sunglasses or a year of contact lenses are all common eligible expenses.
What you can usually pay for with an FSA or HSA
- Eye exams for you and your dependents, including kids’ eye exams and contact lens exams and fittings
- Prescription glasses, including a spare pair, a computer pair and progressive lenses
- Prescription sunglasses (sunglasses without a prescription usually don’t qualify)
- Contact lenses, including a full year’s supply, and contact lens solution
- Reading glasses
- Medical eye care costs you pay yourself, such as copays and deductibles for a dry eye or eye infection visit
Your plan decides what is eligible, so check its list if you’re unsure. A limited-purpose FSA, which some people have alongside an HSA, usually covers vision and dental expenses like these.
When does your FSA money expire?
It depends on your plan. Many FSAs follow the calendar year and end on December 31, but your employer’s plan year may be different. Employers can also choose to add one of two options, but not both:
- A grace period of up to two and a half months after the plan year ends (until March 15 for a calendar-year plan) to spend what’s left
- A carryover of a limited amount into the next plan year
Many plans offer neither. Your benefits portal or HR department can tell you your exact deadline and balance.
How an HSA is different
Money in a health savings account (HSA) doesn’t expire. It rolls over from year to year, and it’s yours even if you change jobs. You can still use it for the same eye care expenses whenever you need them. There’s no year-end deadline, but if you’ve been putting off an exam or new glasses, there’s no reason to wait.
Don’t forget your vision insurance
If you have vision insurance, its yearly exam and eyewear allowance often resets on January 1 too, and unused benefits usually don’t carry over. Using your vision plan and your FSA together can stretch both. For example, your plan may cover the exam while your FSA covers the rest of your glasses or a second pair. We’ll check your benefits before your visit. How to use your vision benefits before they reset.
How to use it at Beyond 2020 Vision Specialists
- Check your balance and deadline in your FSA or HSA account.
- Book your eye exam at any of our nine offices: our private offices in Odessa and East Lake (Palm Harbor), or our offices inside Visionworks in Tampa, Wesley Chapel, Port Richey, Bradenton, Lakewood Ranch, Sarasota and Venice. Every office is open on Saturdays.
- Bring your FSA or HSA card, along with your vision and medical insurance cards. We accept FSA and HSA cards for exams and eyewear. Payment methods.
- Ask for an itemized receipt if your plan needs one to approve the purchase.
Short on time? At our Odessa office, most single-vision glasses are made the same day in our own lab (same-day glasses). At our offices inside Visionworks, your exam is with our doctors, and you can choose glasses or contacts from Visionworks right after your visit.
Book before December fills up
December is one of our busiest months, and Saturdays go first. If your FSA or vision benefits reset on January 1, book your exam now to get the time you want: book your year-end visit.
This article is general information, not tax advice. Your FSA or HSA plan’s rules decide what is eligible and when your money expires.