As you review your benefits for the year, you might find yourself with extra FSA or HSA funds. There are plenty of ways to pay for your fave QUAY prescription specs, and using your FSA or HSA may be the right way for you. Here are the deets on how to use your FSA or HSA funds toward stylish QUAY prescription glasses.
What Is the Difference Between an FSA and an HSA?
First of all, what even are FSAs and HSAs? Here’s the deal: An FSA is a flexible spending account, and an HSA is a health spending account. Both are pre-tax accounts where you can set aside funds for healthcare expenses. There are, of course, differences between these plans.
What Is an FSA?
Flexible spending accounts, which have a pre-tax contribution limit of $3,050, are usually only eligible through an employer. With FSAs, you'll often hear the phrase "use it or lose it.” FSAs typically can't be rolled over into the following year, with the occasional exception of a grace period or a rollover of up to $610.
What Is an HSA?
With an HSA, you can create an account through an employer or private insurance — the catch is that you need to be enrolled in a high-deductible health insurance plan. HSA annual contribution maximums are capped at $3,650 for individuals and $7,300 for family coverage. In contrast with an FSA, you can roll over HSA funds yearly.
What Is FSA Eligible? What Is HSA Eligible?
OK, so what are considered FSA- and HSA-eligible items? FSAs and HSAs can often be used towards similar expenses, including copays, prescriptions, and over-the-counter health-related products. Both will also allow you to use funds towards — you guessed it — vision expenses.
You can use your funds towards eye exams for getting the right eye prescription and checking out eye conditions, from issues such as amblyopia to eye twitching. In most cases, you can also pick up specs with your FSA or HSA dollars if you have a medical reason for requiring glasses (and even prescription sunglasses). Since vision insurance typically only covers one pair of glasses, you can use your FSA or HSA dollars towards another pair. Get one as a backup for driving or in case you misplace your specs.
How Do You Buy QUAY Prescription Glasses and Sunglasses With an FSA or HSA Plan?
Getting prescription specs from QUAY is easy. Simply pick out your fave pair, then upload an unexpired prescription from your optometrist. You'll usually get a debit card with an FSA or HSA plan, so you don't have to wait for reimbursement. You will also need to document your expenses, which, in this case, would be the receipt or invoice for your QUAY purchase. FYI: Sometimes, you may not get a card, and will need to fill out a reimbursement form instead. Check with your vision plan administrator for more information.
With your FSA or HSA dollars, flex QUAY Rx glasses that keep your vision in the clear and turn heads your way.