Using Hsa For Lasik
If you are a candidate for a lasik procedure please note when using an fsa or hsa you should always be aware of the limits or rules for your accounts as not all medical or health expenses can be covered.
Using hsa for lasik. An hsa also includes a catch up contribution provision which allows participants 55 and older to contribute an additional 1 000 toward their hsa. In most cases if you want to have lasik surgery you will need to pay for it without help from your insurance company. How to use your fsa to pay for your. One of the big advantages of using an fsa or hsa to pay for lasik prk or other qualifying laser eye surgeries is that the funds are tax advantaged meaning they reduce the employee s taxable income by being withheld before taxes are taken out of payroll.
Like the fsa the irs sets limits on what procedures can be covered by an hsa. Using your hsa for lasik is simple. If you have an fsa or hsa you may be able to use these accounts to cover the cost of lasik. Also if your employer offers an fsa program you can use it in conjunction with your hsa to.
Using an hsa or fsa to pay for lasik. Your hsa also follows you from one employer to the next so you don t have to worry about losing funds if you switch jobs. When you open an hsa you get a debit card or checks that are associated with the hsa account. An hsa can be used to pay for a variety of medical needs in addition to lasik eye surgery and unlike with some other tax friendly savings options hsa funds do rollover from one year to the next.
Be sure to check with your hr department for enrollment deadlines in your company s hsa or fsa benefits as well as to gain clarification on the approved uses for your fsa to ensure lasik surgery is included. Lasik is an eligible medical expense which can be paid for using dollars from your health spending account hsa. Can you use hsa for lasik. Lasik surgery is an eligible expense.
Using your health savings account hsa for lasik surgery. By setting up an hsa you can pay for elective medical services like lasik and other laser eye surgery procedures while maximizing your tax savings. Lasikplus makes using an hsa easy just tell us you would like to use money in your hsa to pay for your lasik and we will take care of the rest. The funds held in your hsa will be available without a time limit.
How to use your hsa to pay for your lasik. This means that you could fully fund your hsa each year and then tap into the account when you have enough money to cover the lasik procedure. You can then fund the account up to the yearly limit set by the irs. Tips for using hsa or fsa on lasik surgery.