Great Uses For FSA/HSA

If you contribute to a Flexible Spending Account (FSA) or Health Savings Account (HSA), you may have questions, like can you use an FSA/HSA for glasses or eye care?  

The good news is that you can use an HSA/FSA to cover vision-related expenses. In fact, we surveyed 450 people who wear prescription glasses or contacts and found that of those who have an FSA or HSA:

• 70% use it to pay for prescription glasses
• 61% use it to pay for eye exams
• 36% use it to pay for prescription contact lenses
• 29% use it to pay for prescription sunglasses
• 26% use it to pay for glasses repairs
• 24% use it to pay for prescription eye drops
• 16% use it to pay for vitamins for eye health

However, if it’s close to the end of the year, time may be running out to use those benefits.  

So, how can you maximize your FSA/HSA for your vision needs? Keep reading to get all the details on what HSAs/FSAs are and how you can use them to keep your family’s eye health in check. 

FSA and HSA Basics

Before getting into how you can use an FSA/HSA for vision care, you need to know how these accounts work. 

An HSA allows you to contribute pre-tax dollars to a dedicated account to pay for qualified medical expenses. Using untaxed money may help lower your out-of-pocket health expenses for medical, dental, and vision care. 

For example, let’s say you need to purchase a pair of prescription glasses that cost $200 and your income tax rate is 25%. By paying with the pre-tax dollars in your FSA/HSA, you would save $50 on those glasses. 

An FSA is like an HSA, but it’s started by your employer. You can contribute a portion of your pre-tax paycheck to the account. Your employer can also contribute.  

Surprisingly, less than half (44%) of people who wear prescription glasses or contacts have an FSA or HSA account. However, over half (57%) of those who do not have an FSA/HSA say they wish they did. 

Now that you know the basics of FSAs and HSAs, let’s look at some of the key differences between these two types of accounts:

Flexible Spending Account (FSA)	Health Savings Account (HSA)
Established and owned by your employer	Owned by you
Can’t take funds with you if you leave your job	Funds belong to you, regardless of where you’re employed
Cannot make withdrawals	Can make withdrawals (may incur a penalty fee)
Leftover funds do not rollover into the next year	Leftover funds can rollover into the next year
Part of employer-provided insurance plans	Part of an individual’s insurance plan or employer’s high-deductible insurance plan
Contribution limit for an individual is $3,200; $6,400 per household	Contribution limit for an individual is $4,150; $8,300 per household

 

Shockingly, three in four people with an FSA or HSA have over $100 left in their account by the end of the year. If you fall into this category and have an FSA, make sure you’re making the most of your benefits by spending those funds before time is up.

Can You Use Your FSA or HSA for an Eye Exam?

Yes! You can use your FSA or HSA to cover the cost of an eye exam. Not only can you use it to cover the cost of an eye exam for yourself, but also eligible spouses and dependents (kids). 

In fact, many eyecare-related expenses can be covered with funds from an FSA or HSA. The main exceptions are insurance premiums and non-prescription eyewear and contacts. 

If you haven’t had your annual eye exam yet, make sure you put those FSA/HSA funds to use by scheduling an eyecare appointment. Getting regular eye exams is crucial to maintaining your eye health. Early detection of eye conditions can make for more effective solutions and help you see your best!

Can You Use Your HSA or FSA for Glasses?

Yes, you can use your FSA or HSA for glasses, as long as they are prescription. 

The types of eyewear you can likely use your FSA/HSA funds to purchase include:

• Prescription glasses.
• Prescription sunglasses.
• Reading glasses.
• Progressive lenses. 
• Prescription glasses with blue-light protection.
• Contact lenses.

Usually, you cannot use FSA/HSA funds to purchase non-prescription glasses and sunglasses. 

If you have extra FSA or HSA funds available at the end of the year, you may consider using them to purchase an extra pair of prescription glasses. Your insurance carrier typically covers one pair of prescription glasses per year, but if you have extra HSA or FSA funds available, you can purchase additional pairs, and maybe even try another style or color! 

Other Vision Expenses Covered by Your HSA/FSA

Beyond using your FSA or HSA for glasses, your vision insurance will likely cover many of your needs related to eye health. You can use HSA or FSA for vision care expenses such as:

• Eye exams and prescription glasses/contacts for eligible spouses and dependents.
• Treatment for eye conditions.
• Eye glass repair kits.
• Eye glass repair.
• Cleaning solution for contacts and glasses.
• Eye drops.
• Supplements and vitamins to support eye health.
• Deductibles for eye care.
• Prescription swim or safety goggles.
• Corrective surgery like LASIK.
• Travel expenses to treat certain eye conditions.
• Extra pair of prescription glasses or contacts.

Depending on your plan, you may need to give your HSA/FSA provider a letter of medical necessity (LOMN) from your doctor to show the medical need for treatment. LOMNs are usually required for expenses not typically covered by vision insurance (e.g. vitamins or eye surgery). 

Contact your HSA/FSA provider to find out what specific items and treatments require an LOMN so you can ask your doctor for it ahead of time.

Vision Expenses HSAs and FSAs Do Not Cover

The IRS sets rules on what eyecare expenses can and cannot be paid for with your FSA or HSA plan. Expenses that may not be covered under your HSA or FSA include:

• Cosmetic procedures.
• Expenses reimbursed by your insurance provider.
• Nonprescription contact lenses, eyeglasses, and sunglasses.
• Warranties for glasses. 

How to Pay for Vision Expenses with an HSA or FSA

Now that you know you can use your FSA/HSA for glasses and vision care, let’s talk about how to go about paying for those expenses with your plan:

• Confirm vision care expenses are covered by your FSA/HSA: If you’re receiving care from an eye doctor, get a list of what products and services you need throughout the year. Then, check with your HSA/FSA provider to see if those products and services can be covered. 
• Check your account balance: FSA and HSA plans work differently, so you’ll want to keep track of your funds throughout the year. Remember, FSA plans typically have a deadline to use funds by and anything left in the account will not rollover into the next year.
• Tell your optometrist you’d like to use your FSA/HSA: Whether you’re getting an eye exam or a new pair of glasses, let your eye doctor know you intend to pay with your FSA/HSA. That way, they can tell you what is or isn’t covered and prepare you for the last step of submitting payment or getting reimbursed by your FSA/HSA provider. 
• Use the HSA/FSA debit card issued by your provider. Many FSA/HSA providers issue a debit card, which makes it easier to pay for vision expenses. You’ll either need to present the card to your eye doctor or enter the card details into an online form.  
• Get reimbursement for out-of-pocket expenses. If you don’t have a debit card, you’ll need to pay for expenses and get reimbursed by your HSA or FSA provider. After submitting your receipts and/or medical bills to your FSA/HSA provider, they should reimburse you for the vision services and eyewear covered by your plan. 

Don’t Let Your FSA/HSA Funds Go to Waste

Now that you know you can use your FSA/HSA for glasses, eye exams, and other vision care, it’s time to put those funds to use.

Even if you’ve used your vision benefits on an eye exam, glasses, or contact lenses, you might still have money remaining in your FSA/HSA. Make sure to check on your funds throughout the year to maximize your FSA or HSA–you may be surprised to see how much is covered! 

When you’re ready for your next eye exam, pair of glasses, or contact lenses, contact your friendly, neighborhood eye care specialists at Pearle Vision. We’ll take care of your entire family and ensure those FSA/HSA funds don’t go to waste.

HSA/FSA for Vision FAQ

Can I use my FSA/HSA for both glasses and contact lenses?

Yes! Your pre-tax FSA/HSA funds can typically be used for glasses, contact lenses, prescription sunglasses, and eye exams.

Do FSA/HSA funds cover the entire cost of my eye exam?

This depends on your plan and the cost of the exam. Your FSA/HSA may fully cover the exam, or you might need to pay a portion out-of-pocket. Contact your provider for coverage details. 

I wear glasses. Can I use my FSA/HSA to get a backup pair?

Absolutely! It's a smart way to use remaining FSA/HSA funds and have a spare pair of prescription glasses or sunglasses on hand.

What if I don't use all my FSA/HSA money by the end of the year?

Check your specific plan rules. Some FSA funds expire, while others may allow a rollover or grace period. Unused HSA funds generally roll over year to year.

How do I use my FSA/HSA at Pearle Vision?

Let us know when booking your appointment whether you’d like to use an FSA or HSA for glasses or other eyecare expenses. We can help verify your balance and eligible purchases. Some plans have a dedicated FSA/HSA card for easy payment.