When you use your health savings account to buy new glasses, you can spend your money before taxes. You can buy your glasses online or at a retail store, and most of the costs are covered by your HSA. However, if you do not have a debit card, you will have to pay for the items upfront and submit receipts.
Some plans require proof of purchase and may require a statement stating that the expense is not covered by your insurance plan. If approved, you can then spend your HSA dollars on eyewear.
Use Your HSA To Buy A New Pair Of Eyeglasses
While HSAs and Flexible Spending Accounts are both financial accounts, they are in fact different. An HSA allows you to use pre-tax dollars to pay for medical expenses. Additionally, a Health Savings Account allows you to roll over your funds, so you can use your account for a variety of healthcare expenses.
When buying prescription glasses, you can make use of your HSA or FSA. Both options can save you a considerable amount of money.
For HSA, your funds will be deposited into your account, where they can be used for prescription sunglasses, prescription eyeglasses, and more. If you are not eligible for a HSA, you can use your Flexible Spending Account to cover your purchases.
Get New Sunglasses With Your HSA Today!
Both HSA and FSA dollars can be used for vision-related expenses. You can buy glasses with your FSA or HSA funds.
Unlike FSAs, which usually expire at the end of the year, HSA dollars, as mentioned above, will roll over to the next year. If you are not a regular wearer of glasses, using your HSA to buy glasses is a smart option for you.