Pay for LASIK with Your FSA or HSA and Save Big!
Pay for your LASIK procedure and save on taxes by using a Flexible Spending Account (FSA) or Health Savings Account (HSA). Many of our patients cover some or all of their treatment costs this way. Our financial team can advise you on applying these pre-tax benefits.
What is an HSA?
People with high-deductible health plans can open Health Savings Accounts to pay for optional care like LASIK. HSA funds come from tax-exempt accounts to cover procedures your insurance doesn’t. Contribute up to annual IRS limits to maximize savings. Balances even roll over year-to-year so you can grow your account for future healthcare costs.
HSA Benefits for LASIK:
- Use for LASIK and other laser eye surgeries
- Claim tax deductions on your contributions
- Possible tax-free deposits from employers
- Interest and earnings build up tax-free
How an HSA Works:
First, you must meet IRS requirements tied to having an eligible high-deductible plan. Then open an account through an approved HSA trustee like a bank. Employers can also contribute. Pay out-of-pocket as usual until reaching your annual deductible. Then withdraw HSA funds tax-free for qualified medical expenses like LASIK. Check if your employer offers HSAs.
What is an FSA?
A Flexible Spending Account lets you pay for eligible healthcare on a pre-tax basis through payroll deductions. Known also as flex plans, Section 125 plans, or cafeteria plans.
FSA Benefits for LASIK:
- Reduce taxable income and increase take-home pay
- Save hundreds or thousands per year
- Use for deductibles, glasses, drugs, LASIK, and more
How an FSA Works:
Choose an annual contribution amount (within limits) during open enrollment. That total is deducted evenly from each paycheck and deposited into your FSA by your employer. When you have medical costs insurance doesn’t fully cover, submit paperwork to get reimbursed from your account.
Eligible Expenses:
- Elective surgeries like LASIK
- Deductibles, eyeglasses, prescription drugs
- Other non-reimbursed IRS-qualified medical expenses
This pre-tax perk is only for US residents. Check if your employer offers an FSA program. Take care deciding your annual contribution, as leftover funds are non-refundable. We suggest a LASIK consultation first to determine costs before allocating FSA dollars.
Ready to get started?
- Schedule a consultation: Our friendly staff will discuss your candidacy and answer any questions you have about using your FSA or HSA for LASIK.
- Determine your coverage: We’ll help you understand your plan’s specific guidelines and coverage amounts.
- Allocate funds: Contribute enough to your FSA or HSA to cover your LASIK surgery.
Whiting Clinic is committed to making LASIK affordable and accessible. Let us help you see clearly and save money with your FSA or HSA!
Please note: This offer is only available to US residents. Not all employers participate in FSA or HSA programs. Check with your benefits manager for details.