FSA & HSA for LASIK – How to Pay for LASIK

Flexible Spending Account (FSA)/Health Savings Accounts (HSA)

Today many employers offer, through their benefits package, either a Flexible Spending Account (FSA) or a Health Savings Account (HSA). Like the other components of your benefits package you need to choose to participate in an FSA or HSA at the time of your annual enrollment.

An FSA or HSA is an excellent resource to save money on LASIK.

An FSA or HSA allows an employee to set aside a portion of his or her earnings pre-tax to pay for qualified expenses. Laser vision correction is one of these qualifying expenses.

By allotting money into an FSA or HSA you can pay for your LASIK surgery with pre-tax dollars, which could mean a 20-30% discount. You must check with your Human Resource Coordinator at your company for details on what is available to you.

There are specifically two items you should check on for using your FSA or HSA for LASIK:

  1. In most instances you can use your entire allotment during the 1st month of your benefits year even though you have not actually made all of your contributions. That means you can have your LASIK sooner than later and that your FSA/HSA is loaning the money to you free of any interest and income tax.
  2. You also should be aware that an FSA is a “use it or lose it” plan. If at the end of your company’s enrollment year you have not used all of the dollars in your FSA your employer is not able to pay them back to you. Some plans allow for a short period where funds can be carried over into the following enrollment year. For this reason we advise that you come in for your free consultation to be sure you are an excellent candidate before allocating money to an FSA. An HSA often has different rules and may offer a better opportunity to roll over unused money year to year. It is your responsibility to check on the specific rules applicable to your specific employer’s plan.

Can I Use My FSA or HSA to pay for LASIK Financing?

At Providence Eye & Laser Specialists we will be happy to assist you in taking advantage of your FSA or HSA.