A Flexible Spending Account is an employer sponsored US government plan that allows you to set aside pre-tax dollars for eligible health care costs. This includes LASIK surgery.
That money is deducted from your gross salary BEFORE taxes are withheld. You therefore can reduce your tax burden and at the same time set aside that money for eligible medical expenses. Consequently you keep more of your hard earned money in your pocket because you pay less taxes.
Some Basic Rules about a Flexible Spending Account or FSA
The most important rule set up by the IRS is one everyone should understand. If you put in more money than you need or therefore use, you cannot get it back. It is the "USE IT OR LOSE IT" rule.
This means that you must spend all the money you have put into your FSA by the end of your employer's plan year or it is lost.
If you have been considering LASIK surgery and don't have a flexible spending account, now is the time to speak to your HR coordinator about the dates to enroll. Once you determine your FSA enrollment dates, make an appointment to find out if you are a candidate for LASIK. This is an important step before you enroll.
Please email firstname.lastname@example.org for any questions and set up your free qualifying appointment. Once you are certain you are eligible for LASIK, you can enroll in your FSA for the coming plan year.
If you happen to have any money left in your account for the current plan year, you can use that before the time if up.
Time to make LASIK more affordable and keep more of your hard earned money in your pocket all at the same time.