FSA/HSA

FLEXIBLE SPENDING ACCOUNT (FSA) – HEALTH SAVINGS ACCOUNT (HSA)

Using your FSA and HSA funds for contact lenses.

Are you aware that you can purchase contact lenses from CheapAsContacts.com using your flexible spending account [FSA] or health savings account [HSA] funds? Just use your FSA/HSA card as you would any other credit card. If you don’t have either but do have vision insurance, you still may be able to purchase lenses and be reimbursed by your insurance provided as an out of network purchase.

What is a Flexible Spending Account?

It is a fund which grants you the ability to pay for eligible medical expenses with pre-tax money.

How will an FSA help you save money?

All of the funds you contribute to a flexible spending account is taken out of your pay before taxes. Doing this lowers your taxable income, meaning you’ll pay less come tax time. Plans are set up so that you can use pre-tax funds to cover all your qualified healthcare expenses that aren’t covered by your health plan, such as but not limited to vision care expenses.

How can you pay for contact lenses using your FSA?

Easy! Locate your contact lens brand on our easy to use website and enter in your prescription to add to cart. After confirming all of your details including shipping and billing address enter in the FSA card number in the same section you would a normal credit card. If your plan requires you to submit a receipt for reimbursement, you may print your receipt when your order is complete. You can also access all receipts from past orders under your order history screen in your account summary page.

If you don’t have an FSA and are interested in obtaining one, talk with your provider about possible enrollment. FSA funds typically expire at the end of each year so don’t wait until the last minute to use your FSA Funds, as any unused money is lost. After the yearly expiration funds are renewed (prefunded) which means you can begin to use the replenished money in your FSA fund before contributing more money to it.

What is a Health Savings Account?

It is a savings account which permits you the ability to pay for eligible medical expenses and save for medical expenses in the future using pre-tax money. Unlike an FSA, funds roll over and accumulate year to year if not spent. If you do not have an HSA and are interested in obtaining one, talk with your provider about possible enrollment.