If you’re thinking about vision correction procedures like LASIK, PRK, or EVO ICL™, cost may be one of the factors holding you back. The good news? These procedures are considered eligible medical expenses under most Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs), which means you can use tax-free dollars to help pay for them.
What’s the Difference Between an FSA and HSA?
Both FSAs and HSAs are designed to help you save on out-of-pocket medical expenses like the cost of LASIK, but they function a bit differently:
- FSA: Typically employer-sponsored, FSAs let you set aside pre-tax income for qualified expenses. Most plans follow a “use it or lose it” rule, meaning funds must be spent by the end of the plan year.
- HSA: HSAs are available to those with high-deductible health plans. Contributions roll over from year to year and can even be invested, giving you more long-term flexibility.
Can I Use These Funds for Vision Correction?
Yes—both FSAs and HSAs can be applied toward the cost of laser eye surgery and other eligible vision correction treatments. You may also be able to use the funds for related expenses like pre-op evaluations, medications, and post-op care. Because contributions are tax-free, this can make a significant difference in your total out-of-pocket cost.
Planning Ahead
If you’re using an FSA, it’s smart to schedule your consultation before the end of the year and plan your surgery soon after your new funds become available. With an HSA, you have more time to accumulate savings and choose the timing that works best for you.
Take the First Step
If you’ve been thinking about freeing yourself from glasses or contacts, exploring your benefits could be the first step. Schedule a consultation to better understand your options and find out whether you’re a good candidate for vision correction.
