The end of 2013 is almost here, but before you get caught up in all of the holiday festivities that come along with ringing in the new year, be sure to take a moment to see if you still have money available to use in your flexible spending account (FSA).
A flexible spending account (FSA), health savings account (HSA) or cafeteria plan are all different names given to the savings accounts employers provide their employees. Money in these accounts is set aside from your paycheck to be used for medical and health related expenses.
Oftentimes, individuals are provided with a debit card tied specifically to these accounts that can be used when purchasing medical equipment or services including: copays, prescriptions, eyeglasses or contacts.
Those who aren’t provided a debit card can access the money in their FSA by submitting a receipt and description of the medical products or services obtained to their plan administrator. The money is then reimbursed from the account.
While the rules of each individual FSA is set by an administrator, for the majority of plans, the balance must be spent before the end of the calendar year, on December 31, 2013. Those who don’t spend their full amount will not be able to roll over the money into next year. Instead they will lose it.
Don’t risk losing the hard earned money that you’ve accumulated in your FSA. Be sure to take the time to check your balance and take care of any health issues you may have by making an appointment with your eye doctor at Planet Vision.
If you have extra money in your account that you need to spend, it’s always a good idea to visit your eye care professional. Not only is your eye exam be covered by your FSA, so are the costs associated with new glasses, contacts and prescription sunglasses.
Planet Vision offers a wide assortment of designer sunglass brands for you to choose from. Before December 31 comes, be sure to schedule an appointment with your eye doctor at Planet Vision. Use the money in your FSA, don’t lose it.