Friday, 08 December 2017 11:10

Using Flexible Spending to Give Your Eyes a Little Love!

By Susan Halstead, ABOC, FNAO | Families Today

With only a few weeks left to use the funds in your Flexible Spending Account before they are gone for good, don’t forget to use some of that flex money to give your eyes a little love.

What is a Flexible Spending Account?

Established by the U.S. government to provide employees with a tax-free method for paying out-of-pocket medical and health-related expenses, Flexible Spending Accounts have increased in popularity in recent years, especially since they enable individuals to lower their taxable income.

Here’s how Flexible Spending Accounts work:

Flexible Spending Accounts allow employees to have money withheld tax-free that they can use toward various health and dependent-care expenses (for example, the cost of day-care.)  Funds are either deducted from the account via a debit card, or the employee can submit receipts of eligible purchases, and the funds are credited against the balance of the account.

The only downside to Flexible Spending Accounts is that if you don’t use up all of the balance in your account by the end of the calendar year, you lose them for good.  It is the infamous “Use ‘em or lose ‘em” situation that causes many people to scramble during the month of December to find ways to utilize remaining balances in their Flex Spending Accounts.

Several ways to use your Flex Spending to care for your eyes:

The good news is that Flex Spending Accounts are actually surprisingly “flexible” when it comes to how you use the dollars you have contributed over the year.  While the government is very clear about the types of things that Flex funds can be spent on (day care is fine, summer camp is not), there are plenty of ways to use your Flex contribution wisely before time runs out. Vision care products and eyewear are often overlooked as an option!

 

 

 1. 

PRESCRIPTION EYEGLASSES OR READING GLASSES:

Like prescription sunglasses, eye glasses are medical devices. Flex funds can be spent on both prescription lenses and the frames to hold the lenses.  If you’ve been putting off getting a new pair of prescription glasses, December is great time to get an eye exam and upgrade your eyewear.  If you’ve recently purchased a pair of “everyday” eyeglasses, you might use the remaining balance in your Flexible Spending Account to add a second, more “daring” pair of designer eyewear to your wardrobe.

 

 2. 

PRESCRIPTION SUNGLASSES

Because prescription sunglasses are considered medical devices, they qualify as an eligible Flex purchase.  If you’ve been dying to add a great pair of designer prescription sunglasses to your eyewear collection, now is the time.  Any sunglass frame qualifies, including designer sunglasses, provided they contain a valid prescription lens.

 

 3. 

COMPUTER GLASSES:

Suffering from eye strain, headaches or blurry vision after a long day at the computer? Computer glasses or the new “anti-fatigue” lenses might help.  Many people who don’t normally need eyeglasses find that a good pair of computer glasses can help them focus better after extended stints on the computer, as well as reduce eye fatigue. 

 

 4. 

CONTACT LENSES:    

If you want to stock up on contact lenses for the coming year, you can use your Flexible Spending Account funds to buy ahead for 2018.  Even better, buying a year’s supply of contacts enables you to take advantage of bulk discounts and rebates to stretch your Flex Spending dollars even more.  If you’re concerned about your prescription changing during the year, don’t worry: Most optometrists will allow you to return your sealed, unmarked contact lens boxes for a
new prescription.

 

 5. 

COLORED CONTACT LENSES:

Want to make your brown eyes blue?  Colored or tinted contact lenses are eligible for Flexible Spending, provided they are prescription lenses. 

 

 6. 

PRESCRIPTION SAFETY GLASSES:

While regular safety glasses don’t qualify for Flexible Spending, if you require a prescription in your safety glasses, you can use your Flexible Spending benefit to help cover the cost.  These are great even for home use and yard work eye protection!

 

 7. 

EYE EXAMS:

You can also use your Flexible Spending Account dollars to offset deductibles and copays for eye exams.  If you haven’t had an eye exam in the past year and you have some Flex funds you are about to lose, schedule an eye appointment in December and be sure to get your receipts in before the end of the calendar year.

 

Susan Halstead is a nationally and NYS Licensed Optician and the owner of Family Vision Care Center in Saratoga Springs.  Susan can be reached for comments or questions via email: This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone 518-584-6111.

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