Utilizing FSA & HSA Funds for Prescription Eyewear
You can allocate your Flexible Spending Account (FSA) or Health Savings Account (HSA) funds to acquire prescription eyeglasses, prescription sunglasses, or contact lenses through VisionSpecialists.org. These purchases are eligible for FSA and HSA, regardless of your vision insurance status. By using your FSA or HSA debit card, you can avoid the need to submit reimbursement forms to your insurance provider. If you lack an FSA or HSA debit card, obtaining reimbursement is straightforward. Below is guidance on submitting the reimbursement form to your provider.
Understanding FSA and HSA: Key Points
FSA Highlights:
- The full amount of your FSA funds for the year becomes accessible on January 1st.
- Typically, FSA funds expire at the end of the calendar year.
- Depending on your employer, you might be allowed to carry over up to $500 of unused FSA funds into the next year.
HSA Highlights:
- HSA funds accumulate throughout the year.
- HSA funds do not expire and remain in your account until utilized.
- Unused HSA funds roll over into the following year.
Common Features of FSA and HSA:
- Both can be used to purchase prescription eyewear and frames.
- Funds are usable regardless of vision insurance coverage.
Frequently Asked Questions about FSA & HSA
Can FSA/HSA Funds Be Used for Glasses?
Yes, FSA or HSA funds can typically be used to buy prescription glasses, contact lenses, and prescription sunglasses. Non-prescription contacts and sunglasses may be eligible if prescribed by a doctor.
When Are FSA/HSA Funds Accessible?
Generally, FSA & HSA funds are available at the start of your coverage period, often defined as the calendar year beginning January 1st. If you contribute regularly from your paycheck, the balance accumulates over the year.
Do FSA or HSA Funds Expire? Do They Roll Over?
FSA funds usually need to be used within the coverage period (typically the calendar year ending December 31). Some plans offer a grace period allowing use of up to $500 of remaining FSA funds until March 15 of the following year, depending on your employer. Unused FSA funds are forfeited after the coverage period expires.
HSA funds do not expire and remain in your account until used. Unspent HSA funds roll over into the next year.
Are Sunglasses Covered by FSA and HSA?
FSA funds can be used for prescription sunglasses. Non-prescription sunglasses may be eligible if prescribed by a doctor.
Are Polarized Sunglasses FSA-Eligible?
If your prescription sunglasses are polarized, they are FSA-eligible. Non-prescription polarized sunglasses may require a doctor's prescription to be eligible.
Can FSA or HSA Be Used for Non-Prescription Sunglasses?
Generally, non-prescription sunglasses are not eligible. Exceptions may exist if they are prescribed by a doctor.
Can FSA or HSA Be Used for Contact Lenses?
Yes, FSA and HSA funds can be used to purchase prescription contact lenses. Non-prescription contacts for cosmetic purposes are not eligible.
How to Use FSA or HSA for Purchases on VisionSpecialists.org?
If you have an FSA or HSA debit card, enter the card information at checkout like a regular credit card. Without an FSA or HSA debit card, follow these steps: