You can take advantage of your Flexible Spending Account (FSA), popularly known as a Flex Plan, to pay for qualified medical expenses such as LASIK or lens implants on a pre-tax basis.
FSA accounts are also known as flex plans, reimbursement accounts, tax savings or medical spending accounts and cafeteria plans.
Why Use Flex Spending?
The advantage of using such plans is that they can effectively reduce your income taxes. For a $4,000 LASIK procedure, you could end up saving anywhere between $1,500 and $2,280 in taxes depending upon your tax bracket.
You can use your flex spending account for much more than just LASIK. It can also cover:
However, it is important to remember that many of these programs are on a “Use It or Lose It” basis. If you don’t use your flex spend dollars by year-end, you could lose the benefit. Please check with your employer to see if they participate in FSA account program and how much you have available.
Also, it is a good idea to schedule your complimentary consultation to find out if you are a candidate for LASIK.
Our laser center staff is familiar with flex spend accounts and can answer any questions you may have. Please contact Northeastern Eye Institute online or call (800) 844-6315 today to schedule your free LASIK consultation. We have 15 conveniently-located offices serving patients in Scranton, Wilkes-Barre, Hazelton, and throughout all of Northeastern Pennsylvania.