This is a busy time of the year, but there’s one tax task you shouldn’t overlook in the holiday rush. If you have a medical flexible spending account, or FSA, you need to check its balance and make sure you don’t end up wasting that money.
These workplace-provided accounts are popular for a couple of reasons.
First, you can use the account money to pay for items and services that aren’t covered by your health insurance.
Second, the saving process also saves you tax dollars. You make FSA contributions via regular, equal payroll deductions. The amounts are taken from your paycheck before your withholding taxes are calculated, so you pay less in federal income and Social Security taxes upfront.
But the accounts have one drawback. In many instances, if you don’t use the money by the end of your benefits year, which for most people is Dec. 31, you’ll lose it.
How can you use your Flexible Spending Account?
Distance Vision Loss Solutions
If you’re tired of wearing glasses to see at a distance – watch tv and movies, play sports and more – LASIK is a great solution.
Pepose Vision was the first in the area to offer LASIK and is recognized annually as one of the very top LASIK surgeons in America.
We offer a consultation where we’ll measure your eyes to make sure LASIK is right for you and explain the procedure in detail. You can be free of glasses by the New Year!
Another great option is the Visian ICL, also known as the Implantable CollamerÂ® Lens. It is a type of refractive procedure to help correct the most common visual problem, myopia (difficulty seeing at a distance). The Visian ICL is intended to remain in place without maintenance yet can be removed by us if needed in the future. It is an alternative to LASIK and other refractive procedures.
Cataract Premium Lenses …
for great vision near, far and even in-between!
If you have cataracts, we have amazing solutions that not only remove the blurriness of the cataract but actually improve your vision near, far and even in-between.
The Tecnis SymfonyÂ® Intraocular Lenses is the first in a new category of intraocular lenses (IOLs) for the treatment of cataracts. The Symfony lenses are the only lenses in the United States that provide a full range of continuous high-quality vision following cataract surgery, while also mitigating the effects of
presbyopia by helping people focus on near objects. As a result, patients treated for cataracts not only have clearer vision, but improved vision at a range of distances, often reducing or eliminating the need for glasses.
Pepose Vision is proud to be one of the very first practices in the U.S. to offer the Tecnis Symfony IOL.
Near Vision Loss Solutions
If you’re frustrated with readers but can’t see without them we now have a simple solution, the KAMRA™ Inlay.
The KAMRA™ inlay treatment is an exciting new eye procedure that restores near vision and frees you from the constant frustrations of reading glasses. The KAMRA inlay sits in the first few layers of the eye known as the cornea. Smaller and thinner than a contact lens, the KAMRA inlay is a mini-ring with an opening — or pinhole — in the center. The inlay uses this pinhole to focus light coming into the eye. This restores near vision while maintaining distance vision.
Pepose Vision Institute is proud to be one of the first practices to offer the KAMRA Inlay in Missouri and the bi-state area
Other great uses of your FSA funds are for eye exams, eyeglasses and prescription sunglasses and contact lenses and replacements.
If you have any questions about your FSA, please contact us at 636.728.0111.