Does your workplace offer an HSA (Health Spending Account)? Did you know that you can use your Hsa Funds towards eyeglasses and eye exams? Want to know more? Here’s how to use your HSA funds to cover your eye-related medical expenses for the year.

How do HSAs work?

An HSA or Health Spending Account is an account that is set up by your employer. In this account, you make regular monetary contributions. These contributions are tax-deductible and removed from your paycheck before taxes are taken out. This allows you, the employee, to maximize your contributions every month.

An HSA is only available to employees who are covered by a HDHP (High Deductible Health Plan). You may have a different health plan with a lower deductible. If so, you may be eligible for a similar account, called an FSA.

In your Health Savings Account, you can save over $3,000 a year (there is a cap set each year as to how much you can save) of this untaxed Money to be used on any medical expenses you choose. There are certain rules about what is considered a “medical expense”, you can typically use the funds to cover your co-pays, prescriptions and any other medical related expenses–including your eye health needs.

How do HSAs save you money?

HSAs save you money because they allow you to save money before that money is taxed. This means for every $100 you save, you are, in essence, saving an additional $20 to $30 (depending on your income tax rate). What would only be $70-$80 in your savings account after income tax is removed from your paycheck, remains $100.

Over the course of a year, you see how this untaxed money can add up. An extra $20 a month, over the course of a year, is an additional $240 for you to use towards your medical expenses. Think about it this way for many eyeglass wearers. That $240 a year is enough to cover all of your eye-related expenses for the entire year.

How can Eyeglass World help me maximize my HSA funds?

Head to Eyeglass World to spend your HSA funds and take care of your optical needs for the year. You can really stretch your dollars by becoming a member of the Eyesight Club. Membership allows contact lens wearers to get great discounts on annual supplies of contacts. You can also take advantage of Eyeglass World’s “two pair” deals that assure you the lowest prices on two complete pairs of top designer eyeglass frames.

Talk to the professionals at your closest Eyeglass World to see how you can use your HSA funds to cover all of your specific optical needs.

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